Economics, 3rd Edition

deterministic trends 

trends that are constant, positive or 

negative independent of time for the series being analysed

diminishing marginal product 

the property whereby the 

marginal product of an input declines as the quantity of the 

input increases

diminishing marginal utility 

refers to the tendency for the 

additional satisfaction from consuming extra units of a good 

to fall

direct tax 

a tax levied on income and wealth

discount rate 

the interest rate at which the Federal Reserve 

lends on a short-term basis to the US banking sector

discrimination 

the offering of different opportunities to similar 

individuals who differ only by race, ethnic group, sex, age or 

other personal characteristics