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N: The standard abbreviation for the quantity of land resources, especially for the analysis of production. The letter "N" is used even though land begins with an "L" because "L" is used to represent labor. The complementary representations for other inputs are "L" for labor and "K" for capital.
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AUTONOMOUS CONSUMPTION Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on income.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for gnomes hiding in cypress trees.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Well done is better than well said. " -- Benjamin Franklin, statesman, inventor
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ASX
Australian Stock Exchange
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