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LEAKAGE LINE: A line used in the injection-leakage model representing the relation between non-consumption uses of income (that is, leakages) and national income. The three leakages are saving, taxes, and imports. The foundation of the leakages line is the saving line, which is then enhanced by adding taxes and imports. The other part of the injection-leakage model is a line representing injections. The intersection of the injection and leakage lines identifies equilibrium aggregate output, or Keynesian equilibrium.
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GRAY SKITTERY
Your compete MICRO*scope for today
You are the type of person who seems to be running around in circles most of the time, in large part because you spend a lot of time running around in circles. Family and friends have no idea how many contradictory thoughts are going through your head at one time. Today, you are likely to spend a great deal of time at a garage sale hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for the happiest person in the room. You should consider shopping at stores or businesses beginning with the letter Y, but do not buy any products with a serial number or product code containing the number 857858. Your preferred shopping venue is mail order catalogs. Your special symbol is the question mark (?).
Is this You?
As a Gray Skittery, you are ambivalent, indecisive, and uncertain. You are in a constant struggle between the forces of demand and supply, production and consumption, good and evil... and you're losing the battle. You have trouble making decisions and choosing from among the seemingly infinite number of options that you perpetually face. Your shopping experiences are inevitably confusing.
This isn't me! What am I?
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MARGINAL UTILITY AND DEMAND An explanation of the law of demand and the negatively-sloped demand curve based on utility analysis and the law of diminishing marginal utility. The law of diminishing marginal utility states that marginal utility declines as consumption increases. Because demand price depends on the marginal utility obtained from a good, price also declines as consumption increases, meaning price and quantity demanded are inversely related, which is the law of demand.
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Trading Some Ideas On EXCHANGE RATESOne potential problem with any far and wide ambling tour of the economy is ambling too far or too wide. Such is the case as we find ourselves in the quaint and courteous Republic of Northwest Queoldiola. While we're here, let's take the opportunity to explore the quaint and courteous economy of the Northwest Queoldiola. Our impromptu economic expedition is faced with an immediate roadblock. I have a pocket filled with good old U. S. dollar bills, but the quaint and courteous people of Northwest Queoldiola don't trade their wares for good old U. S. dollar bills. They prefer the quaint and courteous Northwest Queoldiolan currency, the queold. All we need to do is trade my good old U. S. dollar bills for quaint and courteous queolds.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Always make a total effort, even when the odds are against you." -- Arnold Palmer
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AASB
American Assocation of Small Business
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