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NOMINAL PRODUCTION: The market value of all production measured in current, actual prices. Nominal production is typically measured with nominal GDP.
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TAX MULTIPLIER A measure of the change in aggregate production caused by changes in government taxes. The tax multiplier is the negative marginal propensity to consume times one minus the slope of the aggregate expenditures line. The simple tax multiplier includes ONLY induced consumption. More complex tax multipliers include other induced components. Two related multipliers are the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the balanced-budget multiplier which measures the change in aggregate production from equal changes in both taxes and government purchases.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a birthday greeting card for your father or a T-shirt commemorating the first day of spring. Be on the lookout for rusty deck screws.
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A half gallon milk jug holds about $50 in pennies.
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"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. " -- Albert Einstein, physicist
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LME
London Metal Exchange
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