December 1, 2015 

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PORTFOLIO INVESTMENT: The acquisition of financial assets (which includes stock, bonds, deposits, and currencies) from one country in another country. In contrast to foreign direct investment, which is the acquisition of controlling interest in foreign firms and businesses, portfolio investment is foreign investment into the stock markets. Most economists consider foreign direct investment more useful than portfolio investment since this last one is generally regarded as temporal and can leave the foreign country at the first sign of trouble.

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PRINCIPLE OF THE MEDIAN VOTER: A voting principle stating that the median voter determines the outcome of an election governed by majority rule. The median voter is the one with an equal number of voters on either side of the vote. As such, the vote cast by THE median voter is the deciding or majority vote. However, this median voter's preference might not generate the best, that is, efficient, result.

     See also | public choice | majority rule | super majority rule | unanimity rule | plurality rule | voter paradox | logrolling | explicit logrolling | implicit logrolling | Tiebout hypothesis | principal-agent problem | principle of median location |

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A graphical representation of the relation between aggregate expenditures on real production and the price level, holding all ceteris paribus aggregate demand determinants constant. The aggregate demand (AD) curve is one side of the graphical presentation of the aggregate market. The other side is occupied by the long-run aggregate supply curve and/or the short-run aggregate supply curve. The negative slope of the aggregate demand curve captures the inverse relation between aggregate expenditures on real production and the price level. This negative slope is attributable to the interest-rate, real-balance, and net-export effects.

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State of the ECONOMY

U.S. Imports
June 2015
$232.4 billion
Up 1.2% from May 2015: Econ. & Stat. Admin.

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[What's This?]

Today, you are likely to spend a great deal of time at an auction trying to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for letters from the Internal Revenue Service.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"Sometimes our light goes out, but is blown into flame by another human being. Each of us owes deepest thanks to those who have rekindled this light. "

-- Albert Schweitzer, missionary physician

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