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light industry (L6)<br />An industry using raw materials and components light in weight and noted for a great amount of vALUE ADDED, e.g. the computer assembly industry.<br /> See also: heavy industry; industry limited arbitrage (GO)<br />Market activity that is too weak to bring security prices back to their efficient levels
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average propensity to save (E2)<br />Total savings as a proportion of total income. This proportion is likely to be negative at low levels of income as poor households often need to borrow to finance basic consumption; at higher income levels, households can afford to save because their consumption needs have been met. The average propensity to save for a national economy will depend on its income distribution and average level of mcome.<br /><em>See also:</em> savings; savings ratio
roundabout method of production (D2) A method of production using CAPITAL goods to increase the future PRODUCTIVITY of factors of production. In a simple case such as fishing, the roundabout method would be used if labour were first expended on producing rods and nets, rather than attempting to catch fish with one's bare hands, so that fish can be caught in greater numbers in a given time period. This concept was central to B6HM-BAWERK's capital theory.<br /><em>See also:</em> capitalism
<strong>Higher Education Reconciliation Act (HERA) of 2005</strong> – The portion of the Deficit Reduction Act of 2005 specifically addressing student financial aid provisions, including student loan interest rates and fees, consolidation rules, school as lender, and other policies and procedures.
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