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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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MARGINAL PROPENSITY FOR GOVERNMENT PURCHASES The change in government purchases induced by a change in income or production (national income or gross domestic product). The marginal propensity for government purchases (abbreviated MPG) is another term for the slope of the government purchases line and is calculated as the change in government purchases divided by the change in income or production. The MPG plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part of the multiplier process. A related marginal measure is the marginal propensity to consume.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus." -- Alexander Graham Bell, inventor
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ASX
Australian Stock Exchange
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