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EFFICIENT SEARCH, DETERMINANTS: Two factors that affect information search are (1) the amount of purchase and (2) frequency of purchase. Goods that are relatively expensive increase the potential benefit of search. For example, saving 10 percent on the purchase price of a house is significantly more than saving 10 percent on the price of bar of soap. Buyers are thus likely to undertake extensive search when buying a house, but not for soap. Goods that are purchased more frequently also don't require extensive search activities. Since buyers already know the "best places" to buy the "highest quality" products at the "lowest prices" for frequently purchased goods, little can be gained from search.
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MARGINAL PROPENSITY TO IMPORT The change in imports purchased from the foreign induced by a change in income or production (national income or gross domestic product). The marginal propensity to import (abbreviated MPM) is another term for the slope of the imports line and is calculated as the change in imports divided by the change in income or production. The MPM plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part to the multiplier process. A related marginal measure is the marginal propensity to consume.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area seeking to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"There is at least one point in the history of any company when you have to change dramatically to rise to the next level of performance. Miss that moment, and you start to decline. " -- Andy Grove, Intel Corp. chairman
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GLS
Generalized Least Squares
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