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AGGREGATE DEMAND DETERMINANT: A ceteris paribus factor that affects aggregate demand, but which is assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate demand curve to shift, it's usually most convenient to group them into the four, broad expenditure categories -- consumption, investment, government purchases, and net exports. The reason is that changes in these expenditures are the direct cause of shifts in the aggregate demand curve. If any determinant affects aggregate demand it MUST affect one of these four expenditures.

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Lesson 17: Money | Unit 4: Money's History Page: 22 of 25

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  • Barter lets resources specialize in production and that with barter trades, people can access a wider variety of goods than they could produce on their own.
  • That commodity money has value in use and value in trade and that the value in use dictates value in trade.
  • That metals are a natural for use as a commodity money and that their most important characteristic is durability.
  • That fiat money has little or no value in use compared to value in exchange.
  • That electronic money fits two of the four characteristics of money: it is easy to transport and completely divisible, but it raises questions about being counterfeitable and durable.

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MARGINAL PRODUCTIVITY THEORY

A theory used to analyze the profit-maximizing quantity of inputs (that is, the services of factor of productions) purchased by a firm in the production of output. Marginal-productivity theory indicates that the demand for a factor of production is based on the marginal product of the factor. In particular, a firm is generally willing to pay a higher price for an input that is more productive and contributes more to output. The demand for an input is thus best termed a derived demand.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for pencil sharpeners with an attitude.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. "

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