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<strong>SLAP</strong> – St. Louis area group of financial aid professionals.

elasticity of a factor of production (DO) The proportionate change in output caused by a proportionate increase in the input of one factor of production, holding the other factors constant.

contractual savings (E2, G2)<br />Savings made under a contract that specifies regular payments into a fund over a minimum time period. The advantage to pension funds and life assurance companies of savings of this type is that they make possible long-term institutional mvestments, e.g. in real estate.

functional financing (H5)<br />A framework for public finance policies proposed by Lerner which would require the government to use every policy instrument available to contribute to the prevention of inflation and deflation and the promotion of the general interest, rather than following traditional goals of governments such as balancing the budget.<br /><em>Reference</em><br />Lerner, A.P. (1943) 'Functional finance and the Federal debt', Social Research 10 (February): 38-51.

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