more than once. multiplier The ratio of a change in the equilibrium GDP to the change in or in any other component of investment a ggregate expenditures or the number by which a change in aggregate demand; any such component must be multiplied to find the resulting change in the equilibrium GDP. multiplier effect The effect on equilibrium GDP of a change in or (caused by a change aggregate expenditures aggregate demand in the government expenditures, consumption schedule, investment, or net exports). mutual funds of and selected and purchased Portfolios stocks bonds by mutual fund companies, which finance the purchases by pooling money from thousands of individual fund investors; includes both as well as Fund index funds actively managed funds. returns (profits or losses) pass through to the individual fund investors who invest in the funds. A situation in which a change in price mutual interdependence strategy (or in some other strategy) by one firm will affect the sales and profits of another firm (or other firms). Any firm that makes such a change can expect the other rivals to react to the change. Nash equilibrium In an outcome from which game theory, neither firm wants to deviate; the outcome that once achieved is stable and therefore lasting. A authorized to operate by the national bank commercial bank U.S. government. National Credit Union Administration (NCUA) The federally chartered agency that insures deposit liabilities (up to $100,000 per account) in credit unions. national health insurance (NHI) A proposed program in which the Federal government would provide a basic package of health care to all citizens at no direct charge or at a low costsharing level. Financing would be out of general tax revenues. national income Total income earned by resource suppliers for their contributions to plus gross domestic product taxes on production the sum of wages and salaries, and imports; rent, interest, profit, and such taxes. income, proprietors’ national income accounting The techniques used to measure the overall production of the economy and other related variables for the nation as a whole. National Labor Relations Act (Wagner Act of 1935) As amended, the basic labor-relations law in the United States; defines the legal rights of unions and management and identifies unfair union and management labor practices; established the National Labor Relations Board. National Labor Relations Board (NLRB) The board established by the of 1935 to investigate National Labor Relations Act
more than once. multiplier The ratio of a change in the equilibrium GDP to the change in investment or in any other component of a ggregate expenditures or aggregate demand; the number by which a change in any such component must be multiplied to find the resulting change in the equilibrium GDP. multiplier effect The effect on equilibrium GDP of a change in aggregate expenditures or aggregate demand (caused by a change in the consumption schedule, investment, government expenditures, or net exports). mutual funds Portfolios of stocks and bonds selected and purchased by mutual fund companies, which finance the purchases by pooling money from thousands of individual fund investors; includes both index funds as well as actively managed funds. Fund returns (profits or losses) pass through to the individual fund investors who invest in the funds. mutual interdependence A situation in which a change in price strategy (or in some other strategy) by one firm will affect the sales and profits of another firm (or other firms). Any firm that makes such a change can expect the other rivals to react to the change. Nash equilibrium In game theory, an outcome from which neither firm wants to deviate; the outcome that once achieved is stable and therefore lasting. national bank A commercial bank authorized to operate by the U.S. government. National Credit Union Administration (NCUA) The federally chartered agency that insures deposit liabilities (up to $100,000 per account) in credit unions. national health insurance (NHI) A proposed program in which the Federal government would provide a basic package of health care to all citizens at no direct charge or at a low costsharing level. Financing would be out of general tax revenues. national income Total income earned by resource suppliers for their contributions to gross domestic product plus taxes on production and imports; the sum of wages and salaries, rent, interest, profit, proprietors’ income, and such taxes. national income accounting The techniques used to measure the overall production of the economy and other related variables for the nation as a whole. National Labor Relations Act (Wagner Act of 1935) As amended, the basic labor-relations law in the United States; defines the legal rights of unions and management and identifies unfair union and management labor practices; established the National Labor Relations Board. National Labor Relations Board (NLRB) The board established by the National Labor Relations Act of 1935 to investigate
honors_textbook_glossary.docx