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CHANGE IN AGGREGATE DEMAND: A shift of the aggregate demand curve caused by a change in one of the aggregate demand determinants. In essence, a change in aggregate demand is caused by any factor affecting aggregate demand EXCEPT the price level. This concept should be contrasted directly with a change in aggregate expenditures. You might also want to review the terms change in quantity demanded and change in demand, as well. The change in aggregate demand is comparable to the change in market demand. A change in aggregate demand is a change in ALL price level-aggregate expenditure combinations, meaning that each price level is matched up with a different aggregate expenditure (which is illustrated as a shift of the aggregate demand curve). This change in aggregate demand is caused by a change in any of the aggregate demand determinants. In contrast, a change in aggregate expenditures is a change from one price level-aggregate expenditure combination to the another (which is illustrated as a movement along a given aggregate demand curve).
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MIXED ECONOMY: An economy, or economic system, that relies on both markets and governments to allocate resources. While, in theory, we could have a pure market economy or a pure command economy, in the real world all economies are mixed, relying on both markets and governments for allocation decisions. Markets allocate resources through voluntary choices made by living, breathing people. Government forces allocation through involuntary taxes, laws, restrictions, and regulations. Both institutions play vital roles in an economy. See also | economy | economic system | market | government | three questions of allocation | pure market economy | pure command economy | capitalism | market-oriented economy | socialism | communism |
Recommended Citation:MIXED ECONOMY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: August 15, 2020].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: mixed economy
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PRODUCT MARKETS Markets that exchange final goods and services, that is, the output that is combined into gross domestic product. The buyers of this production are the four macroeconomic sectors--household, business, government, and foreign. The seller of this production is primarily the business sector. A substantial part of macroeconomics is devoted to explaining how and why gross domestic product exchanged through product markets rises or falls. Product markets, also termed output or goods markets, are one of three primary sets of macroeconomic markets. The other two are resource markets and financial markets.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for telephone calls from former employers.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent. " -- Isaac Newton, mathematician, physicist
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CPS
Current Population Survey (US)
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