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GOVERNMENT CONSUMPTION EXPENDITURES AND GROSS INVESTMENT: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring government purchases undertaken by the government sector. Government consumption expenditures and gross investment averages between 15-20% of gross domestic product. This percentage tends to be ebb and flow a little with the political winds.
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Lesson 21: Factor Demand | Unit 4: Determinants
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Page: 17 of 24
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- The ceteris paribus determinants of factor demand.
- Factor demand determinants are three ceteris paribus items that affect factor demand, but which are assumed constant when a factor demand curve is constructed. Changes in any one causes a shift of the factor demand curve.
- What are the factor demand determinants?
- Product Demand
- Factor Productivity
- Other Prices
- How do they affect the factor demand curve?
The factor demand curve, like any other curve, can shift in one of two ways: - An increase in factor demand is seen as a rightward shift of the factor demand curve.
- A decease in factor demand is seen as a leftward shift of the factor demand curve.
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PRODUCTION INPUTS The resources, or factors of production, used in the production of output by a firm. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. The quantity of a variable input can be changed in the short run and the quantity of a fixed input cannot be changed.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for rusty deck screws.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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