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BALANCE OF TRADE SURPLUS: An imbalance in a nation's balance of trade in which the payments for merchandise exports received by the country exceed payments for merchandise imports paid by the country. This is also termed a favorable balance of trade. It's considered favorable because more goods are exported out of the country than are imported in, meaning that foreign production is replaced with domestic production, which then increases domestic employment and income. A balance of trade surplus is often the source of a balance of payments surplus.
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Lesson 14: Aggregate Supply | Unit 1: The Concept
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Page: 2 of 20
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Aggregate supply is the relation between real production, measured as real GDP, and the price level, measured as the GDP price deflator.- This is comparable to the relation for aggregate demand and lets us combine both relations to form the aggregate market.
- How does the price level affect the supply of real production? For markets, the law of supply is that a higher price induces an increase in the quantity supplied. Does this work for aggregate supply, too?
- How the price level affects real production depends on the difference between the short run and long run.
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INVESTMENT EXPENDITURES DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the investment line is constructed and which cause the investment line to shift when they change. Some of the more important investment expenditures determinants are interest rates, expectations, wealth, capital prices, and technology.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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BA
Bank Acceptance
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