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NET EXPORTS: The difference between exports, goods and services produced by the domestic economy and purchased by the foreign sector, and imports, goods and services produced by the foreign sector and purchased by the domestic economy. While exports and imports important unto themselves, when combined into a single measure net exports captures the overall interaction between the foreign sector and the domestic economy. Arithmetically speaking, if exports exceed imports, then net exports are positive, and if imports exceed exports, the net exports are negative. You might want to examine the closely related entry, balance of trade.
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CHANGE IN REAL PRODUCTION The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. A change in real production is caused ONLY by a change in the price level. This is one of two changes related to aggregate supply. The other is a change in aggregate supply. A change in real production is comparable to a change in quantity supplied. A change in real production for short-run aggregate supply means real production changes with a movement along a given short-run aggregate supply curve. However, the term "change in real production" is also used for movements along a given long-run aggregate supply curve, even though real production does not actually change in the long run.
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YELLOW CHIPPEROON
[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 a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better." -- Elizabeth Stuart Phelps, Writer
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LS
Least Squares
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