Using someone else's money to pay for a luxury item you would not possibly dream of paying for yourself.
Hazel "I really want to get some antique doorknobs for the faux medievil drawbridge over our moat"
Geoff "No problem honey, we'll stick it on the mp's expenses, Gordon bought a helicoptor last week"
Hazel "Spiffing!"
Geoff "No problem honey, we'll stick it on the mp's expenses, Gordon bought a helicoptor last week"
Hazel "Spiffing!"
by Barry Kabama May 15, 2009
Get the mp's expenses mug.by animon March 24, 2008
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Me: Severus Help Me a dementor is trying to take my soul
Severus: EXPECTO PATRONUM YOU SOUL SUCKING FIEND
Severus: EXPECTO PATRONUM YOU SOUL SUCKING FIEND
by Severuslover19 August 28, 2020
Get the Expecto Patronum mug.*noun*; a method of representing the economy as the sum of many identical individuals and firms, each represented by a system of mathematical equations. The Rational Expectations Hypothesis (REH) takes its name from the premise that economic actors, i.e., everyone, do not make consistent errors about the present or future behavior of markets.
REH was devised mainly as a rebuke to Keynesian economics, and in particular, the strategy of fiscal policy or monetary policy.
According to the REH, fiscal policy does not alter aggregate demand because the "average" person recognizes that her lifetime income is not increasing--so she needs to save rather than spend the stimulus money, in anticipation of higher taxes in the future.
At the same time, monetary policy does not work because it relies on lowering interest rates to make more money available; more money means inflation, but people have to be deceived into thinking prices for their product are going up, so they will expand production. According to REH, people or firms will figure this out, and see increased demand as mere inflation. Instead of increasing output and employment, they'll want to raise prices so they can meet their future bills.
According to REH, both monetary and fiscal policy rely on illusions to work; and since people (on average) will make rational estimates o the future, they will defeat these illusions.
REH was devised mainly as a rebuke to Keynesian economics, and in particular, the strategy of fiscal policy or monetary policy.
According to the REH, fiscal policy does not alter aggregate demand because the "average" person recognizes that her lifetime income is not increasing--so she needs to save rather than spend the stimulus money, in anticipation of higher taxes in the future.
At the same time, monetary policy does not work because it relies on lowering interest rates to make more money available; more money means inflation, but people have to be deceived into thinking prices for their product are going up, so they will expand production. According to REH, people or firms will figure this out, and see increased demand as mere inflation. Instead of increasing output and employment, they'll want to raise prices so they can meet their future bills.
According to REH, both monetary and fiscal policy rely on illusions to work; and since people (on average) will make rational estimates o the future, they will defeat these illusions.
The rational expectations hypothesis states that we can break the realization of a return into an expected return that depends on the current information set and an unexpected component that depends only on new information.
by Abu Yahya March 3, 2009
Get the rational expectations hypothesis mug.The major result obtained pursuant to the consumption of just about every libido-boosting, life-prolonging, vitality-enhancing magical pill force advertised to ignorant consumers everywhere.
Cost me five-hundred bucks for a three months supply of PeNiS-max--all it did was give me expensive urine, and it stunk too...
by YAWA February 2, 2019
Get the expensive urine mug.by Billy_liggs August 5, 2016
Get the expenny mug.A charm that calls into existence a shot of tequila. This gets much harder to do correctly if one tries to do it 3 or 4 times in a row, with the exception of very high-tolerance casters. It should be noted that Dumbledore could cast the charm wordlessly.
"Expecto Patron!" he cried; a deep, golden light leapt from the tip of his wand and materialized into a shot of Alquimia Reserva de Don Adolfo Extra Añejo Tequila on the bar.
by Tobadef January 15, 2016
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