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KEYNES, JOHN MAYNARD: A British economist (born--1883, died--1946) who is most noted for his work The General Theory of Employment, Interest, and Money, published 1936. The The General Theory revolutionized economic theory of the day, forming the foundation of Keynesian economics and creating the modern study of macroeconomics. Keynes was a well-known and highly respected economist prior to publication of The General Theory, however, this revolutionary work guaranteed Keynes a place as one of the most influential economists of all time.
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KEYNESIAN MODEL A macroeconomic model based on the principles of Keynesian economics that is used to identify the equilibrium level of, and analyze disruptions to, aggregate production and income. This model identifies equilibrium aggregate production and income as the intersection of the aggregate expenditures line and the 45-degree line. The Keynesian model comes in three basic variations designated by the number of macroeconomic sectors included--two-sector, three-sector, and four sector. The Keynesian model is also commonly presented in the form of injections and leakages in addition to the standard aggregate expenditures format. This model is used to analyze several important topics and issues, including multipliers, business cycles, fiscal policy, and monetary policy.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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A half gallon milk jug holds about $50 in pennies.
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"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." -- Albert Einstein
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LBO
Leveraged Buyout
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