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<strong>Institutional aid</strong> – Financial aid programs created, funded, and administered by any given postsecondary institution.
income elasticity of demand (DO)<br />The ratio of the percentage increase in demand for a good or service to a percentage increase in income. Thus, if an increase in income of 4 per cent is associated with an increase in demand for food of 2 per cent, the income elasticity will be 0.5. Income elasticities for foodstuffs and agricultural raw materials are often less than one, with the consequence that the Income divergence in economic prosperity between primary producing countries and industrialized countries increases in periods of world economic growth. Income elasticities are positive for NORMAL GooDs and negative for INFERIOR GOODS. In the figure, A is a luxury good as more of it is demanded at higher incomes, B is a normal good and C is an inferior good as less of it is demanded at higher incomes.<br /><em>See also:</em> Engel's law; price elasticity of demand
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labour market intermittency (J2) Interrupting a career before retirement as happens with many female workers who take time off to rear children.
income multiple (G2)<br />The amount of a loan divided by the borrower's annual income. In times of inflation multiples rise helping to sustain rising property prices. UK house loans as a multiple of incomes were on average 1.67 in 1980 and rose to 6.0 in 2000.
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