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September 20, 2018 

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EASY MONEY: A term used when the Federal Reserve System pursues expansionary monetary policy. In other words, to stimulate our economy out of recession, the Fed increases the amount of money in the economy or makes it "easier" for people to get money (usually through bank loans).

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Lesson Contents
Unit 1: Short-Run Production
  • Making Stuff
  • Two Inputs: Fixed and Variable
  • Two Runs: Short and Long
  • Two More Runs
  • Unit 1 Summary
  • Unit 2: Production Measures
  • Total Product
  • Average Product
  • Marginal Product
  • THE Law
  • Unit 2 Summary
  • Unit 3: Product Curves
  • Total Product Curve
  • Average Product Curve
  • Marginal Product Curve
  • THE Law Again
  • Production Stages
  • Unit 3 Summary
  • Unit 4: Long-Run Production
  • Making Plans
  • Returns To Scale
  • Increasing Returns To Scale
  • Decreasing Returns To Scale
  • Constant Returns To Scale
  • Unit 4 Summary
  • Unit 5: Supply
  • A Review
  • A Preview
  • Unit 5 Summary
  • Course Home
    Production

    • The first unit of this lesson, Short-Run Production, begins our study by introducing a few basic concepts underlying production, especially short run, long run, fixed input, and variable input.
    • In the second unit, Production Measures, we take a look the three standard measures of production -- total product, average product, and marginal product.
    • The third unit, Product Curves, then presents graphical relations for these three measures -- total product curve, average product curve, and marginal product curve.
    • In the fourth unit, Long-Run Production, we examine the role returns to scale play in long-run production.
    • The fifth and final unit, Supply, then closes this lesson by previewing the importance of production to the supply decisions by firms.s

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    AGGREGATE EXPENDITURES

    The total expenditures on gross domestic product undertaken in a given time period by the four sectors--household, business, government, and foreign. Expenditures made by each of these sectors are commonly termed consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism. In particular, aggregate expenditures are combined with the price level as aggregate demand.

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    APLS

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