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ACCELERATOR: The ratio between investment expenditures and the change in gross domestic product. This is based on the notion that business investment depends on the rate of growth of aggregate output. If the economy is expanding, in other words, then the business sector invests in more capital goods to produce the extra output needed. This accelerator effect modifies and magnifies the simply multiplier effect based on the induced consumption and the marginal propensity to consume.
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THIRD ESTATE Another term for consumers and the household sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, businesses as the second estate, and journalists as the fourth estate.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for telephone calls from long-lost relatives.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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IIPF
International Institute of Public Finance
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