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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.
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NORMAL GOOD A good for which a change in income causes a comparable change in demand. That is, an increase in income causes an increase in demand and a decrease in income causes a decrease in demand. The income elasticity of demand for a normal good is positive. A normal good is one of two alternatives falling within the buyers' income demand determinant. The other is an inferior good.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for door-to-door salesmen.
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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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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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MGE
Minneapolis Grain Exchange
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