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RECOVERY: A early expansionary phase of the business cycle shortly after a contraction has ended, but before a full-blown expansion begins. During a recovery, the unemployment rate remains relatively high, but it is beginning to fall. Real gross domestic product has begun to increase, usually rapidly. However, because the contraction remains fresh in the minds of many, it may not be immediately clear that the trough of the contraction has been reached.
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INDUCED GOVERNMENT PURCHASES Government purchases that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in government purchases. Induced government purchases reflect the observation that the government sector (especially state and local governments) is inclined to use tax revenue, which increases with income, for purchases. They are measured by the marginal propensity for government purchases (MPG) and are reflected by the positive slope of government purchases line. The alternative to induced government purchases is autonomous government purchases, which do not depend on income.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for defective microphones.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"The two most powerful warriors are patience and time. " -- Leo Tolstoy, author
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PWAC
Present Worth of Annual Costs
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