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TAX MULTIPLIER: The ratio of the change in aggregate output (or gross domestic product) to an autonomous change in a taxes. The tax multiplier is equal to the expenditure multiplier times the marginal propensity to consume. This is based on the only a fraction of the change in disposable income resulting from the change in taxes will result in a change in consumption expenditures. The tax multiplier can be used to indicate the change in fiscal policy induced government taxes are needed to achieve a given level of aggregate output (presumably full-employment output).
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ECONOMICS OF UNCERTAINTY The study of the role that uncertainty plays in the economy and in the allocation of resources, with special attention paid to the analysis of risk. Key topics in this area of study and analysis are risk preferences (aversion, neutrality, and loving) and the provision of insurance. This study of the economics of uncertainty is part of the broader study of the economics of information.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Use, do not abuse; neither abstinence nor excess ever renders man happy." -- Voltaire, philosopher
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BQ
Basic Qoute
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