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<strong>ELM-NDN</strong> – ELM' s National Disbursing Network (NDN), which provides consolidated disbursement services to schools.
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Jubilee 2000 (F3, 00)<br />An international movement in sixty-five countries to cancel by the end of 2000 the unpayable debts of developing countries who jointly had a population of one billion. The purpose of this crusade was to allow poor countries to divert expenditure on servicing debts into spending on health and education. This crusade was inspired by the ancient Jewish idea of 'jubilee', a year of emancipation and restoration occurring every fifty years. It started with a resolution in 1990 of the All African Council of Churches to cancel Africa's debts.
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marginal rate of substitution (D1)<br />The amount of one good which a consumer receives as compensation for giving up one unit of another good. It is equal to the ratio of the MARGrNAL UTILITIES of two goods and is represented by the slope of an rND!FFERENCE CURVE.<br /><em>Reference</em><br />Hicks, J.R. (1939) Value and Capital, ch. 1, Oxford: Oxford University Press. marginal rate of transformation (D2) The reduction in the amount of output of good X as a consequence of an additional unit of a related good Y being produced; the slope of the PRODUCTION POSSIBILITY FRONTIER. This marginal rate is equal to the marginal cost of Y divided by the marginal cost of X.
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