|
|
AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply (AS) is one half of the aggregate market analysis; the other half is aggregate demand. Aggregate supply, relates the economy's price level, measured by the GDP price deflator, and aggregate domestic production, measured by real gross domestic product. The aggregate supply relation is generally separated into long-run aggregate supply, in which all prices and wages and flexible and all markets are in equilibrium, and short-run aggregate supply, in which some prices and wage are NOT flexible and some markets are NOT in equilibrium.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 3: Scarcity | Unit 2: Resources
|
Page: 7 of 17
|
Some times the differences between these four resource types are not clear cut.- What is the difference between entrepreneurship and labor? Do they have membership cards?
- What is the difference between labor and capital? Aren't people produced?
- What is the difference between land and capital? Is farmland natural or is it produced like capital?
|
|
|
|
|
|
|
DERIVATION, SAVING LINE A saving line, a graphical depiction of the relation between household sector saving and income, can be derived from the consumption line. The saving line can also be derived by plotting the saving-income information from a saving schedule or using the slope and intercept values of the saving function. However, derivation from the consumption line emphasis the connection between consumption and income--that the household sector uses a portion of income for consumption and a portion for saving.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
|
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
EJ
Economic Journal
|
|
|
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
|
|
