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FEDERAL FUNDS: Deposits that banks keep with the Federal Reserve System. These deposits are important for bank stability, clearing checks between banks, money creation, and money supply control. They are also borrowed and loaned between banks through the federal funds market. The interest charged for these loans is the Federal Fund rate.
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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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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for crowded shopping malls.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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M&O
Management and Organization
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