The initial government stimul...

The initial government stimulus is the first round. Each dollar spent by the government ultimately becomes income to some people, and, once it has been put into their hands, they spend some fraction of it. That fraction is called the marginal propensity to consume (MPC). Thus the initial increase of expenditures feeds back into a second round of expenditures, made by people, not the government. This then feeds back again into income for yet more people, in an amount equal to the MPC dollars. These people in turn spend a fraction of the MPC, called the MPC squared dollars. This is the third round. But the story is not over yet. Round after round of expenditure follows, and so the sum of the effects of the initial expenditure of a single dollar by the government may be represented as $1 + $MPC + $MPC2 + $MPC3 + $MPC4. . . . The sum of all these rounds is not infinite; it is in fact equal to 1/(1 – MPC), a quantity that is called the Keynesian multiplier. But the sum may be much larger than the original government stimulus. If the MPC is, say, 0.5, the Keynesian multiplier is 2. If the MPC is 0.8, the Keynesian multiplier is 5.

The initial government stimul...

The initial government stimulus is the first round. Each dollar spent by the government ultimately becomes income to some people, and, once it has been put into their hands, they spend some fraction of it. That fraction is called the marginal propensity to consume (MPC). Thus the initial increase of expenditures feeds back into a second round of expenditures, made by people, not the government. This then feeds back again into income for yet more people, in an amount equal to the MPC dollars. These people in turn spend a fraction of the MPC, called the MPC squared dollars. This is the third round. But the story is not over yet. Round after round of expenditure follows, and so the sum of the effects of the initial expenditure of a single dollar by the government may be represented as $1 + $MPC + $MPC2 + $MPC3 + $MPC4. . . . The sum of all these rounds is not infinite; it is in fact equal to 1/(1 – MPC), a quantity that is called the Keynesian multiplier. But the sum may be much larger than the original government stimulus. If the MPC is, say, 0.5, the Keynesian multiplier is 2. If the MPC is 0.8, the Keynesian multiplier is 5.

The initial government stimul...

The initial government stimulus is the first round. Each dollar spent by the government ultimately becomes income to some people, and, once it has been put into their hands, they spend some fraction of it. That fraction is called the marginal propensity to consume (MPC). Thus the initial increase of expenditures feeds back into a second round of expenditures, made by people, not the government. This then feeds back again into income for yet more people, in an amount equal to the MPC dollars. These people in turn spend a fraction of the MPC, called the MPC squared dollars. This is the third round. But the story is not over yet. Round after round of expenditure follows, and so the sum of the effects of the initial expenditure of a single dollar by the government may be represented as $1 + $MPC + $MPC2 + $MPC3 + $MPC4. . . . The sum of all these rounds is not infinite; it is in fact equal to 1/(1 – MPC), a quantity that is called the Keynesian multiplier. But the sum may be much larger than the original government stimulus. If the MPC is, say, 0.5, the Keynesian multiplier is 2. If the MPC is 0.8, the Keynesian multiplier is 5.

[오늘의 한문장] Elon Musk : How the Billionaire CEO of Spacex and Tesla is Shaping Our Future

Like Steve Jobs before him, Musk is able to think up things that consumers did not even know they wanted—the door handles, the giant touch-screen—and to envision a shared point of view for all of Tesla’s products and services. "Elon holds Tesla up as a product company," von Holzhausen said. "He’s passionate that you have to get the product right. I have to deliver for him and make sure it’s beautiful and attractive."" 

[오늘의 한문장] Elon Musk : How the Billionaire CEO of Spacex and Tesla is Shaping Our Future

she said. Well after their marriage ended, Justine continued to blog about Musk. She wrote about Riley and providedto not let people usecommentary on his parenting. One post gave Musk a hard time for banning stuffed animals from the house whenspoken or written discussiontheir twins turned seven. Asked about this, Justine said, "Elon is hard-core. He grew up in a tough culture and toughto grow successfully to take contro ofcircumstances. He had to become very tough to not only thrive but to conquer the world. He doesn‘t want to raise softoverprivileged kids with no direction." Comments like these seemed to indicate that Justine still admired or at leastunderstood Musk‘s strong will."