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DEVALUATION: The act of reducing the price (exchange rate) of one nation's currency in terms of other currencies. This is usually done by a government to lower the price of the country's exports and raise the price of foreign imports, which ultimately results in greater domestic production. The short- and long-run consequences of devaluation are described in the entry on the J curve. A government devalues its currency by actively selling it and buying foreign currencies through the foreign exchange market.
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MARGINAL PROPENSITY TO SAVE The proportion of each additional dollar of household income that is used for saving. The marginal propensity to save (abbreviated MPS) is another term for the slope of the saving line and is calculated as the change in saving divided by the change in income. The MPS plays a central role in Keynesian economics. It quantifies the saving-income relation, which is the flip side of the consumption-income relation, and thus it reflects the fundamental psychological law. It is also a critical to the multiplier process. A related saving measure is the average propensity to save.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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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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MLR
Minimum Lending Rate
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