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DERIVATION, AGGREGATE EXPENDITURES LINE: An aggregate expenditures line, a graphical depiction of the relation between aggregate expenditures and the level of aggregate income or production, can be derived by sequentially adding expenditures by the four macroeconomic sectors (household, business, government, and foreign). This derivation process begins with the consumption line, then adds investment, government purchases, and finally net exports. The process actually generates three alternative aggregate expenditures lines based on the number of sectors included (two sector, three sector, and four sector).
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FIRST-DEGREE PRICE DISCRIMINATION A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed perfect price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for slightly overweight pizza delivery guys.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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ARIMA
Autoregressive Integrated Moving Average
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