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CARDINAL UTILITY: A measure of utility, or satisfaction derived from the consumption of goods and services, that can be measured using an absolute scale. Cardinal utility exists if the utility derived from consumption is measurable in the same way that other physical characteristics--height and weight--are measured using a scale that is comparable between people. There is little or no evidence to suggest that such measurement is possible and is not even needed for modern consumer demand theory and indifference curve analysis. Cardinal utility, however, is often employed as a convenient teaching device for discussing such concepts as marginal utility and utility maximization.
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KEYNESIAN CROSS A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a wall poster commemorating the 2000 Olympics. Be on the lookout for slow moving vehicles with darkened windows.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Always dream and shoot higher than you know how to. Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself." -- William Faulkner, writer
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ACCR
Annual Cost of Capital Recovery
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