|
GOVERNMENT PURCHASES DETERMINANTS: Ceteris paribus factors, other than aggregate income or production, that are held constant when the government purchases line is constructed and which cause the government purchases line to shift when they change. Some of the more important government purchases determinants are fiscal policy and politics.
Visit the GLOSS*arama
|
|
|
|
Lesson 9: Macro Basics | Unit 3: Business Cycles
|
Page: 8 of 16
|
The macroeconomy is unstable. It has periods of falling production, rising inflation, and/or high unemployment. Business cycles are recurring expansions and contractions of the aggregate economy. - Expansion is a general period of increasing economic activity, or rising production, which is associated with low or falling unemployment and high or rising inflation.
- Contraction is a general period of decreasing economic activity, or falling production, which is associated with high or rising unemployment and low or falling inflation.
Counter-cyclical policies to stabilize the business cycle:- During an expansion, try to cause a contraction.
- During a contraction, try to cause an expansion.
|
|
|
|
|
|
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 |
|
|
GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. Be on the lookout for pencil sharpeners with an attitude. Your Complete Scope
This isn't me! What am I?
|
|
The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
|
|
"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
|
|
NAV Net Asset Value
|
|
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
|
|