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February 24, 2024 

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HOMOGENEOUS: In general, the notion that everything has identical characteristics. For example, a neighborhood might have a homogeneous culture, meaning everyone has similar income, religious preferences, and political views. In economics, it is used in a couple of different ways. One is for production, such that two or more goods are homogeneous if they are physically identical or at least viewed as identical by buyers. Another is for mathematical equations, such that an equation is said to be homogeneous if the independent variables are increased by a constant value, then the dependent variable is increased by a function of that value. In a marketing context, this is a market characterized by buyers with similar needs and wants. This group is targeted with an undifferentiated targeting strategy. The company uses only one marketing mix to satisfy this group of buyers.

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MONETARY AGGREGATE: Any of four basic measures of money, or liquid assets for the economy--M1, M2, M3, and L. The Federal Reserve System, as part of their regulatory duties, regularly publish these four monetary aggregates. The smallest, M1, is used as THE medium of exchange in the economy. However, M2 provides savings that are easily converted to M1 and is considered by many as the best measure of spendable assets.

     See also | money | M1 | M2 | M3 | Federal Reserve System | bank | fractional-reserve banking | money functions | near money |


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MONETARY AGGREGATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: February 24, 2024].


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SLOPE, AGGREGATE DEMAND CURVE

The negative slope of aggregate demand curve, reflecting the inverse relation between the price level and aggregate expenditures on real production, is attributable to three primary effects--real-balance effect, interest-rate effect, and net-export effect.

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Today, you are likely to spend a great deal of time at a crowded estate auction looking to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for high interest rates.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"In war, there is no second prize for the runner-up."

-- Omar Bradley, US Army general

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