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ADVISORY COUNCILS, FEDERAL RESERVE SYSTEM: Three support committees that provide feedback to the Board of Governors of the Federal Reserve System to assist in its assorted regulatory responsibilities, including Federal Advisory Council, Thrift Institutions Advisory Council, and Consumer Advisory Council. The Federal Advisory Council is a broad ranging council comprise of commercial bankers. The Thrift Institutions Advisory Council is comprised of representatives of thrift institutions. The Consumer Advisory Council is comprised of consumer credit representatives.

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Lesson 13: Aggregate Demand | Unit 3: The Curve Page: 10 of 22

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The aggregate demand curve captures the demand side of the aggregate market.

Highlights:

  • First: the price level, our GDP deflator, is on the vertical axis, and real production is on the horizontal axis.
  • Second: the aggregate demand curve has a negative slope. At lower prices, real aggregate expenditures are higher.
  • Third: all ceteris paribus aggregate demand determinants are constant.
  • Fourth: the aggregate demand curve gives us information for a given time period.

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BALANCE OF TRADE SURPLUS

The positive difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade surplus is the official term for positive net exports that occurs when exports exceed imports. A balance of trade surplus is also termed a "favorable" balance of trade because it results in a net inflow of monetary payments into the domestic economic from the foreign sector, which tends to be beneficial to a country. The alternative is a balance of trade deficit in which imports exceed exports.

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Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for pencil sharpeners with an attitude.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
"Now is the only time there is. Make your now wow, your minutes miracles, and your days pay. Your life will have been magnificently lived and invested, and when you die you will have made a difference."

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