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OMO: The abbreviation for open market operations, which is the Federal Reserve System's buying and selling of government securities in an effort to alter bank reserves and subsequently the nation's money supply. These actions, under the direction of the Federal Open Market Committee, are the Fed's number one, most effective, most often used tool of monetary policy. If, for example, the Fed wants to increase the money supply (termed easy money) it buy's government securities. If the Fed chooses to reduce the money supply (called tight money) it sells some government securities.
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MARGINAL PROPENSITY TO CONSUME The proportion of each additional dollar of household income that is used for consumption expenditures. The marginal propensity to consume (abbreviated MPC) is another term for the slope of the consumption line and is calculated as the change in consumption divided by the change in income. The MPC plays a central role in Keynesian economics. It quantifies the consumption-income relation and the fundamental psychological law. It is also a foundation for the slope of the aggregate expenditures line and is critical to the multiplier process. A related consumption measure is the average propensity to consume.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Whenever you fall, pick up something. " -- Oswald Avery, scientist
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NAIRU
Non-Accelerating Inflation Rate of Unemployment
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