Absolute (Money) Price

5 Tax base 3 (average) Tax rate.
Tax Multiplier The number that, when
multiplied by the change in taxes, gives us
the change in total spending (and if prices
are constant, the change in Real GDP).
Technology The body of skills and
knowledge involved in the use of resources
in production. An advance in technology
commonly increases the ability to produce
more output with a fixed amount of
resources or the ability to produce the same
output with fewer resources.
Term Auction Facility (TAF) Program
A program under which the Fed auctions
funds to depository institutions. Each TAF
auction is for a fixed amount, with the TAF
rate determined by the auction process
(subject to a minimum bid rate).
Theory An abstract representation of the
real world designed with the intent to better
understand it.
Third-Degree Price Discrimination A
price structure in which the seller charges
different prices in different markets or
charges different prices to various segments
of the buying population.
Tie-in Sale A sale whereby one good can
be purchased only if another good is also
purchased.
Time Deposit An interest-earning deposit
with a specified maturity date. Time deposits
are subject to penalties for early withdrawal,
that is, withdrawal before the maturity date.
Small-denomination time deposits are less
than $100,000.