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B: The common notation for the "slope" term of an equation specified as Y = a + bX. Mathematically, the b-slope term indicates the change in the value of the Y variable resulting from a unit change in the value of the X variable. Theoretically, the b-slope is frequently used to indicate endogenous or dependent relation between the Y and X variables. For example, if Y represents consumption and X represents national income, b measures induced consumption expenditures.
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SAVING LINE A graphical depiction of the relation between household sector saving and income. The saving line is closely related to the consumption line that forms one of the key building blocks for Keynesian economics. A saving line is characterized by vertical intercept, which indicates autonomous saving, and slope, which is the marginal propensity to save and indicates induced saving. The injections-leakages model used in Keynesian economics is based on the saving line.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Failure is a part of success. There is no such thing as a bed of roses all your life. But failure will never stand in the way of success if you learn from it. " -- Hank Aaron, baseball player
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LRMC
Long Run Marginal Cost
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