Google
Monday 
October 15, 2018 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
GROSS DOMESTIC PRODUCT, WELFARE: Gross domestic product (GDP) is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. GDP is intended to measure the nation's production of wants-and-needs satisfying goods and services. While it provides an indication of how far the economy has come on the long road to battling the ever-present scarcity problem, it is NOT a direct measure of the nation's welfare or well-being. GDP is certainly a big component of the well-being of the country, but not the ONLY component.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 14: Aggregate Supply | Unit 4: Determinants Page: 17 of 20

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

  • The rather stable, passive nature of the supply side of the aggregate market--at least when compared to the demand side.
  • How aggregate supply determinants shift the LRAS and SRAS curves, with an increase in aggregate supply moving rightward and a decrease moving leftward.
  • How the LRAS curve shifts from changes in full employment production resulting from changes in the quantity or quality of scarce resources.
  • Some of the ways that quantities of labor, capital, land, and entrepreneurship can change.
  • How resource quality is primarily changed through technology and education.
  • Production cost--especially things like wages and oil prices--as the primary determinant of the SRAS curve.

Course Home | Lesson Menu | Page Back | Page Next

INCOME RECEIVED BUT NOT EARNED

The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.

Complete Entry | Visit the WEB*pedia


APLS

YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for cardboard boxes.
Your Complete Scope

This isn't me! What am I?

It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
"Give the American people a good cause, and there's nothing they can't lick. "

-- John Wayne, actor

CRS
Constant Returns to Scale
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2018 AmosWEB*LLC
Send comments or questions to: WebMaster