Examlex
Suppose an individual's marginal propensity to save is 0.3. If his income increases by £100, by how much will his consumption increase?
Security Agreement
A legal contract that grants a lender a security interest in an asset, which serves as collateral for a loan.
Standards
Established requirements, criteria, or guidelines commonly used for comparison, measurement, or quality assessment.
Default
Failing to fulfill a legal obligation or agreement, particularly in paying back a loan.
Secured Creditor
A creditor with the benefit of a security interest in assets of the debtor, giving them a preferential position in the event of the debtor's insolvency.
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