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BALANCED BUDGET: An equality between the revenues and expenditures that constitute a budget. The notion of a budget is most important for governments, where revenues are taxes and expenditures are assorted public goods, administrative expenses, etc. While the federal government has been notorious for its failure to maintain a balanced budget, except for periods of unexpected prosperity, many state and local governments are very good at this sort of thing.
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SLOPE, INVESTMENT LINE The positive slope of the investment line is also termed the marginal propensity to invest (MPI). This slope is greater than zero but less than one, reflecting induced investment. The slope of the investment line affects the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"We tend to forget that happiness doesn't come as a result of getting something we don't have, but rather of recognizing and appreciating what we do have." -- Fredrick Koeing
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NEDO
National Economic Development Office
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