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INCOME-EXPENDITURE MODEL: A macroeconomic model, which captures the essence of Keynesian economics, is based on the equality between total income generated from gross domestic product and total expenditures on gross domestic product. The cornerstone of the income-expenditure model is the consumption function, which relates household consumption expenditures to income and gives rise to the aggregate expenditure line with the addition of investment, government purchases, and net exports. The intersection between the aggregate expenditure line at the 45-degree identifies equilibrium.
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ECONOMIC ANALYSIS The process of investigating economic phenomena in a systematic manner. In one sense, this is the heart and soul of the economic discipline. While economists spend an ample time identifying economic concepts, the end result of this discovery process is usually aimed at combining these concepts in such a way as to evaluate or analyze alternative consequences.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for deranged pelicans.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"I know the price of success; dedication, hard work and an unremitting devotion to the things you want to see happen. " -- Frank Lloyd Wright, architect
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TIAC
Thrift Institutions Advisory Council
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