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INJECTIONS-LEAKAGES MODEL: A model used in Keynesian economics based on the equality of non-consumption expenditures (or injections) and non-consumption uses of income (leakages). On one side of the equality is saving, taxes, and imports -- the non-consumption leakages. On the other side of the equality is investment, government purchases, and exports -- the non-consumption injections. The injection-leakage model provides an alternative to the Keynesian cross for identifying equilibrium aggregate output.
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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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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet wanting to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for attractive cable television service repair people.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"The only profit center is the customer." -- Peter Drucker, educator
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BVAR
Bayesian VAR (Vector Autoregression)
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