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FISCAL YEAR: The 12-month period government uses for collecting taxes, appropriating spending, and otherwise tabulating its budget. A government's fiscal year need not be identical to the standard January to December calendar year. The fiscal year used by the U.S. Federal government, for example, runs from October through September. State and local governments often have fiscal years running from July through June. For most governments, the fiscal year is self-contained spending period. The revenue appropriated to a government agency needs to be spent during the fiscal year.
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IMPORTS LINE A graphical depiction of the relation between imports bought from the foreign sector and the domestic economy's aggregate level of income or production. This relation is most important for deriving the net exports line, which plays a minor, but growing role in the study of Keynesian economics. An imports line is characterized by vertical intercept, which indicates autonomous imports, and slope, which is the marginal propensity to import and indicates induced imports. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the net exports line, derived as the difference between the exports line and imports line, onto the consumption line, after adding investment expenditures and government purchases.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either 500 feet of telephone cable or a package of 4 by 6 index cards, the ones with lines. Be on the lookout for crowded shopping malls.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"My future starts when I wake up every morning . . . Every day I find something creative to do with my life. " -- Miles Davis, musician
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BVAR
Bayesian VAR (Vector Autoregression)
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