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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).

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Lesson 13: Aggregate Demand | Unit 5: Policies Plus Page: 21 of 22

Topic: Policies <=PAGE BACK | PAGE NEXT=>

The federal government can exert a great deal of control over the aggregate demand curve through government policies. This control of aggregate demand is called demand-management policies.
  • Government use of purchases and taxes to affect aggregate demand is termed fiscal policy.
    • Government can influence aggregate demand directly through government purchases.
    • Government can also indirectly alter aggregate demand through taxes that affect household consumption and business investment.
  • Government also changes the interest rate through monetary policy with the goal of affecting consumption and investment.

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LIBERAL

A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) regulation and control by government over the profit-seeking businesses of the second estate.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for telephone calls from long-lost relatives.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

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Personal Property Tax
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