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<strong>Income-contingent repayment schedule</strong> – A repayment schedule for some Direct Loans under which the borrower' s monthly payment amount is adjusted annually, based on the borrower' s income, family size, and debt amount.
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equilibrium velocity (E4)<br />The VELOCITY OF CIRCULATION that maintains interest rates on deposits at their long-run equilibrium (i.e. average) rates.
bull (F3, G1)<br />A speculator who, expecting prices of shares, commodities or currencies to rise, will buy now and sell after prices have risen, thereby making a capital gain. The opposite is a BEAR.
inverse elasticity rule (DO)<br />This states that the PRICE ELASTICITY OF DEMAND for a good is inversely proportional to price minus marginal cost divided by price (if all CROSS PRICE ELASTICITIES OF DEMAND are ignored). Thus the margin between price and cost is large when elasticity is small: under MONOPOLY, there will be a very INELASTIC demand and the ability to make SUPERNORMAL PROFITS.<br /><em>See also:</em> Lerner index
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