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GOLD CERTIFICATE: Paper currency issued by the U. S. Treasury from the civil war until 1933 that could be exchanged for an equal value of gold. Gold certificates were used as part of a gold standard. With the exception of collectors, gold certificates have long been out of circulation, replaced first by silver certificates, then in the past few decades by Federal Reserve notes.
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SLOPE, AGGREGATE EXPENDITURES LINE The positive slope of the aggregate expenditures line is the sum of the marginal propensity to consume (MPC), marginal propensity to invest (MPI), and marginal propensity for government purchases (MPG), less the marginal propensity to import (MPM). This slope is greater than zero but less than one, reflecting induced expenditures by the four macroeconomic sectors (household, business, government, and foreign). The slope of the aggregate expenditures line determines the magnitude of the multiplier process.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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FOB
Free on Board
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