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AE LINE: Another term for aggregate expenditure line, which is a line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.

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Lesson 6: Supply | Unit 4: Determinants Page: 12 of 19

Topic: Ceteris Paribus Factors <=PAGE BACK | PAGE NEXT=>

Ceteris paribus is the notion that other things remain constant. We make this assumption because things other than price affect supply.
  • These other, ceteris paribus factors, give us useful analytical tools for examining supply and the market.
  • We can turn these factors off and on to better understand how the market works.
  • The ceteris paribus factors are called determinants of supply.
Once again, we apologize for the instructors feeble attempt to speak Spanish. We warned him, but he wouldn't listen.

He has been placed on double-secret probation.

Once again, we regret any inconvenience this may have caused.

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COLLUSION

A usually secret agreement among competing firms in an industry (primarily oligopoly) to dominate the market, control the market price, and otherwise act like a monopoly. The reason for the secrecy is that such behavior is illegal in the United States under antitrust laws. Collusion can take one of two forms. Explicit collusion occurs when two or more firms in the same industry formally agree to control the market. Implicit collusion occurs when two or more firms in the same industry control the market through informal, interdependent actions. Collusion is one of two ways oligopoly firms cooperate to avoid competition. The other is through mergers.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers 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 telephone calls from former employers.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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