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CHANGE IN AGGREGATE EXPENDITURES: The movement along an aggregate demand curve caused by a change in the price level. This should be contrasted directly with a change in aggregate demand. You might also want to review the terms change in quantity demanded and change in demand, as well. A change in aggregate expenditures means that we have identified a NEW level of expenditures on the existing aggregate demand curve. In contrast, a change in aggregate demand means that we have changed, moved, or shifted, the entire aggregate demand curve, the whole range of price levels and aggregate expenditures has changed.
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INDUCED GOVERNMENT PURCHASES Government purchases that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in government purchases. Induced government purchases reflect the observation that the government sector (especially state and local governments) is inclined to use tax revenue, which increases with income, for purchases. They are measured by the marginal propensity for government purchases (MPG) and are reflected by the positive slope of government purchases line. The alternative to induced government purchases is autonomous government purchases, which do not depend on income.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for jovial bank tellers.
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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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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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SWIFT
Society for Worldwide Interbank Financial Telecommunications
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