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P-star model (E3)<br />A model based on the QUANTITY THEORY OF MONEY and the belief that a price level tends to its equilibrium leveL It is used to forecast inflation by calculating the gap between the current price and the equilibrium price (P-star, P*). This equilibrium price is determined by potential output, the quantity of money in the ECONOMY and the equilibrium VELOCITY OF MONEY. If the equilibrium price is more than the current price, there is the possibility of inflation.
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competitive tendering (M2) see compulsory competitive tendering
substitute (DO)<br />A good or service that a consumer regards as providing as much utility as its alternative. The character of being a substitute can be established by measuring the cRoss PRICE ELASTICITY OF DEMAND between the two goods (services). If that elasticity measure is positive, then the goods (services) are substitutes.
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<strong>Mapping Your Future (MYF) Online Stafford Entrance Counseling Leaflet</strong> – A guide for completing entrance counseling online through Mapping Your Future. This publication and all publications published by the MDHE can be requested on the Publications Order Form:
http://www.dhe.mo.gov/publicationsorderform.shtml
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