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FINANCIAL WEALTH, AGGREGATE DEMAND DETERMINANT: One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in financial wealth causes an increase (rightward shift) of the aggregate curve. A decrease in financial wealth causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants are interest rates, federal deficit, inflationary expectations, and the money supply.
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Lesson 22: Factor Supply | Unit 3: Factor Supply
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Page: 17 of 25
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In this unit, you should have learned about:- The three types of supply -- market supply, supply by a firm, and supply to a firm -- and the role supply to a firm has in the analysis of factor markets.
- The four types of market structures based on market control of the buying-side -- perfect competition, monopsony, monopsonistic competition, and oligopsony.
- The three notions of factor cost -- total factor cost, average factor cost, and marginal factor cost.
- The role of market control in the equality or inequality of factor price, average factor cost, and marginal factor cost.
- The two factor supply curves -- one horizontal, the other positively sloped -- based on no market control or some market control.
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AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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ARCH
Autoregressive Conditional Heteroskedasticity
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