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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.
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Lesson 12: Elasticity and Demand | Unit 2: The Continuum
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Page: 8 of 25
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- Let's now consider the remaining two alternatives on the elasticity continuum:
- Relatively Elastic: Relatively elastic demand results when small changes in price lead to relatively larger changes in quantity.
- Relatively Inelastic: Relatively inelastic demand results large changes in price result in relatively small changes in quantity demanded.
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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 commonly termed 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. In particular, aggregate expenditures are combined with the price level as aggregate demand.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for mail order catalogs with hidden messages.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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AMEX
American Stock Exchange
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