|
|
INCOME-EXPENDITURE MODEL: A macroeconomic model, which captures the essence of Keynesian economics, is based on the equality between total income generated from gross domestic product and total expenditures on gross domestic product. The cornerstone of the income-expenditure model is the consumption function, which relates household consumption expenditures to income and gives rise to the aggregate expenditure line with the addition of investment, government purchases, and net exports. The intersection between the aggregate expenditure line at the 45-degree identifies equilibrium.
Visit the GLOSS*arama
|
|
|
|
|
ALLOCATION EFFECT A change in the allocation of resources caused by placing taxes on economic activity. By creating disincentives to produce, consume, or exchange, taxes generally alter resource allocations. The allocation effect is typically used when governments seek to discourage the production, consumption, or exchange of particular goods or activities that are deemed undesirable (such as tobacco use or pollution). This is one of two effects of taxation. The other (primary) is the revenue effect, which is the generation of revenue used to finance government operations.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
More money is spent on gardening than on any other hobby.
|
|
|
"Progress begins with the belief that what is necessary is possible. " -- Norman Cousins, editor, writer
|
|
NAA
National Association of Accountants
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
