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ACTION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for appropriate policies to be launched once they have been agreed to by policy makers. Another part of the implementation lag is the decision lag. For fiscal policy, this involves appropriating funds to government agencies (for government spending) or changing the tax code (for taxes) For monetary policy, this involves the buying and selling government securities in the open market. The action lag is usually shorter for monetary policy than fiscal policy.

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INTERCEPT, SAVING LINE

The intercept of the saving line indicates autonomous saving, saving that does not depend on the level of income or production. This can be thought of as the baseline level of saving that would be undertaken if income falls to zero. Autonomous saving is affected by the consumption expenditures determinants, which cause a change in the intercept and a shift of the saving line. The value of the intercept of the saving line is the negative of the value of the intercept of the consumption line.

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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for crowded shopping malls.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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-- James Perkins, president, Cornell University

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