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GENERAL AGREEMENT ON TARIFFS AND TRADE: A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.
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EXPENDITURES MULTIPLIER A measure of the change in aggregate production caused by changes in an autonomous expenditure. The expenditures multiplier is the inverse of one minus the slope of the aggregate expenditures line. The simple expenditures multiplier includes ONLY induced consumption. More complex expenditures multipliers include other induced components. Two related multipliers are the tax multiplier, which measures the change in aggregate production caused by changes in taxes, and the balanced-budget multiplier which measures the change in aggregate production from equal changes in both taxes and government purchases.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for celebrities who speak directly to you through your television.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Love looks through a telescope; envy, through a microscope. " -- Josh Billings, humorist
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MBA
Master of Business Administration
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