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AE LINE: Another term for aggregate expenditure line, which is a line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.
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Lesson 10: Gross Domestic Product | Unit 1: Measuring Production
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Economists use numerical measurements to indicate the health and well-being of the economy.- Economic diagnosis relies on several indicators.
- Gross domestic product is the most comprehensive measure of the economy's production and one of the most basic measures of the economy's well-being.
- Gross domestic product, as well as other economic measures, are indicators of our economic health.
A GDP Definition:Gross domestic product (GDP) is the total market value of all final goods and services produced in the economy in a given period of time, usually one year. - The goal of GDP is to measure the total production of goods and services produced in the economy each year.
- A larger GDP means that we have more goods and services that can be used to satisfy our unlimited wants and needs.
- The chart presents recent numbers for GDP in the United States.
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CHAIRMAN OF THE BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM The head of the Board of Governors of the Federal Reserve System, and thus the person who is effectively in charge of monetary policy for the United States. The Chairman, one of the 7 members of the Board of Governors, serves as Chairman for a 4-year term, and also is Chairman of the powerful Federal Open Market Committee--the Federal Reserve Committee that sets the course of monetary policy. Being positioned at the top of the central banking authority of the United States, the Chairman is one of the most powerful, if not THE most powerful, individuals in the economy.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for broken fingernail clippers.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"There is no passion to be found playing small ‚ in settling for a life that idles than the one you are capable of living." -- Nelson Mandela
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LIML
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