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EQUALITY STANDARD: One of three basic income distribution standards (the other two are contributive standard and needs standard). The equality standard distributes income equally to every person in society. Everyone--every man, woman, and child--would, in other words, receive exactly the same, per capita income--no more, no less. If, for example, total income earned by 270 million people in the United States is $7 trillion, then every person would receive $25,925.9 each--no more, no less.
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INDUCED INVESTMENT Business investment expenditures that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in investment. Induced investment reflects the observation that the business sector is inclined to reinvest profits (boosted by a growing economy) in capital goods. It is measured by the marginal propensity to invest (MPI) and is reflected by the positive slope of investment line. The alternative to induced investment is autonomous investment, which does not depend on income.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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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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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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MRS
Marginal Rate of Substitution
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