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RISK PREMIUM: This has two very closely related uses. First, it's what risk averse people are willing to pay to avoid a risky situation. For example, if you would be equally happy with a guaranteed $900 or a 50-50 chance of getting either $500 or $1,500, then you're risk premium is $100. Second, it's the extra percentage points added to an interest rate to compensate for the risk of a loan. As a general rule, each 1 percent chance of default on a loan adds a risk premium of about 1 percent to the interest rate.
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GOVERNMENT PURCHASES LINE A graphical depiction of the relation between government purchases by the government sector and the economy's aggregate level of income or production. This relation plays a key role in the study of Keynesian economics. A government purchases line is characterized by vertical intercept, which indicates autonomous government purchases, and slope, which is the marginal propensity for government purchases and indicates induced government purchases. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the government purchases line onto the consumption line, as well as investment expenditures and net exports.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Do not go where the path may lead, go instead where there is no path and leave a trail." -- Ralph Waldo Emerson
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GSP
Gross State Product
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