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marginal propensity to import (F1)<br />The change in the value of imports brought about by income increasing by one unit. If all extra income is spent on imports, the marginal propensity to import (MPM) is 1; if only 10 per cent is spent on imports, the MPM is 0.1. Calculation of the MPM is essential to a measurement of the FOREIGN TRADE MULTI• PL!ER.
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commercial bill (G1)<br />A short-term BILL OF EXCHANGE by which the person who draws it promises to pay the drawee the sum specified on a particular future date, one, two, three or six months hence. This method of finance was extensively used in the UK in the early nineteenth century before banks were prepared to make short-term advances in the form of overdrafts to their customers. It is still a popular form of short-term finance. When a bill of this kind is accepted by an ACCEPTrNG HOUSE, becoming a bank bill, it is possible for the drawee to obtain immediate payment at a discount (fixed according to the ruling short-term money market interest rate).<br /><em>See also:</em> treasury bill
<strong>Full Time (FT)</strong> – An enrollment status indicating the student is carrying a full academic workload as determined by the school.
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