marginal propensity to consume

*noun*; in Keynesian economics, the rate at which aggregate consumption rises in response to a rise in national income.

For example, suppose the marginal propensity to consume (MPC) is 0.95. If the national income is 100 billion dollars, and it rises 10%, then consumption will rise by 9.5 billion, and saving will rise by 0.5 billion.

If this theory is correct, then an expanding economy will suffer insufficient demand for its own output, and a recession will be inevitable.

This is why national governments respond to recessions with deficit spending: they are trying to counteract the MPC's effect on aggregate demand, and bring it in line with potential output.

Not only is the marginal propensity to consume weaker in a wealthy community, but, owing to its accumulation of capital being already larger, the opportunities for further investment are less attractive...

J.M. Keynes, *The General Theory of Employment, Interest, and Money* (1936), Ch.3

by Abu Yahya March 3, 2009

Morgantown, PA

Founded back in the mid 18th century as a trading post with only a hotel, bar and other basic amenities, this small town has grown little in the intervening centuries. If you grew up here, you will forever have to explain that you are not from West Virginia, thanks to this shithole not having any claim to fame, nevemind being less than a tenth the size of its West Virginian cousin. With a population of less than 1,000 and no less than four churches, you can make some guesses about the culture. If you're not Amish, Mennonite or Redneck, you're a random tourist, or you came down from Reading to go to BB's. It's slightly better than some Pennsylvania mining towns, but you can thank the Amish for that, if you can manage to speak to them in a thick enough accent.

I'm from Morgantown, PA, that place that's between _______ and _______.

by telektoret July 13, 2016

Morgan Hendrix

The belief that Morgan Freeman is in actual fact the late and great guitarist, Jimi Hendrix.

"I don't care what you say, Morgan Freeman is actually Jimi Hendrix and it's all one big cover up."
"You're a fucking loony. No way is Morgan Hendrix. That's just crazy talk."

by LiberaceHudson September 25, 2017

Morgaine

A beautiful woman, capable of bewitching charm and utterly unrivaled talents between the sheets, also capable of stealing your soul and bending you to her will

Last night I got struck by a Morgaine and I think she stole a piece of my soul with that booty of hers.

by Pen@guin November 15, 2017

Morgan toke

When someone who claims to be a stoner or smoker smokes but doesn't actually inhale properly only pulling it into their mouth and not their lungs. They will insist that they do properly inhale but they do not.

Person 1: I saw this asian guy at the train station today and he morgan toked an entire cigarette not properly inhaling one toke!

Person 2: What a fucking waste. To be fair it might have been sterling rolling tobacco and that shits vile.

by Ch1ngch0ngp1ngp0ng September 12, 2019

Sleeping Morgan Freeman

The act of getting a z-job from someone while they are passed out shitting on the toilet.

"Hey Bobby fell asleep taking a shit. Lets make him give us a sleeping morgan freeman."

by c-c-cold_c-c-carl May 2, 2014

The Morgan Freeman Effect

When you see a phrase related to a movie or TV show in text and you immediately hear the actors voice in your head as you read it.

Examples: "Hasta la Vista baby." "Say hello to my little friend." "Here's Johnny!" "Sickness must be purged."
The reason this is referred to as "The Morgan Freeman effect" is because Morgans voice is so distinct and ingrained in peoples memories that it is notoriously and extremely easy to recall when seeing his picture or reading a quote by him.

That phrase has The Morgan Freeman Effect.

by Mooglyshigglesbottoms June 30, 2017