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AGGREGATE EXPENDITURES: The total expenditures on gross domestic product undertaken in a given time period by the four sectors -- household, business, government, and foreign. Expenditures made by each of these sectors are specifically labeled consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism.
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Lesson 9: Macro Basics | Unit 4: Policies
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Page: 12 of 16
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People can take different views of government and economic polices that depend on political philosophies.- Liberal Democrat: The view that government is the only way to keep the economy running smoothly, using paternalistic, hands-on policies. If a problem arises, then government is the answer.
- Conservative Republican: The view that government is the problem, not the solution. The best government is the least government because it is a tyrannical oppressor of individual rights and freedoms.
- One view or the other is usually the basis of an economic policy.
The government can be the solution and it can be the problem.
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BALANCE OF TRADE DEFICIT The negative difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade deficit is the official term for negative net exports that occurs when imports exceed exports. A balance of trade deficit is also termed an "unfavorable" balance of trade because it results in a net outflow of monetary payments from the domestic economic to the foreign sector, which tends to be bad for a country. The alternative is a balance of trade surplus in which exports exceed imports.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for high interest rates.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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TC
Total Cost
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