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MARGINAL PROPENSITY TO SAVE: The proportion of each additional dollar of household income that is used for saving. Or alternatively, this is the change in saving due to a change in disposable income. Abbreviated MPS, the marginal propensity to save is the slope of the saving or propensity-to-save line. It also takes center stage for the multiplier effect. In particular, the inverse of the MPS is the simple expenditure multiplier. The sum of the marginal propensity to save and the related concept, the marginal propensity to consume, is equal to one.
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ASSUMPTION An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.
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Packing Up For MIGRATIONThe quiet, peaceful town of Shady Valley has always been a great place for a pedestrian to wander through the workings of the economy. I'm afraid, though, that it's about to end. I've been offered another job -- an opportunity to wander around the streets of the distant mecca of Shady Lane to search out the mysteries of plant pathology. In Shady Lane, the sidewalks are smoother, the crosswalks are better, and the pay is much more lucrative. However, in that Shady Lane is in another time zone and several states away, migration would be my last topic of the day. There's a lot to be gained from this potential relocation of my residence, but it's not without cost. While I ponder this decision, perhaps you can help out by considering the topic of migration.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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GARCH
Generalized Autoregressive Conditional Heteroskedasticity
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