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APC: The abbreviation for average propensity to consume, which is the proportion of income, usually measured as disposable income or national income, used for household consumption expenditures. It is found by dividing consumption by income. The average propensity to consume, abbreviated APC, most often pops up in discussions of Keynesian economics. The average propensity to consume is the average amount of total household income that is devoted consumption expenditures.
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LAW OF DIMINISHING MARGINAL UTILITY A principle stating that as the quantity of a good consumed increases, eventually each additional unit of the good provides less additional utility--that is, marginal utility decreases. Each subsequent unit of a good is valued less than the previous one. The law of diminishing marginal utility helps to explain the negative slope of the demand curve and the law of demand.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for celebrities who speak directly to you through your television.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"One person with a belief is equal to a force of ninety-nine with only interests." -- John Stuart Mill
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FOMC
Federal Open Market Committee
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