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KINKED-DEMAND CURVE: A demand curve with two distinct segments with different elasticities that join to form a kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is directly based on the interdependent decision-making of oligopolistic firms.
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CHANGE IN AGGREGATE EXPENDITURES The movement along an aggregate demand curve caused by a change in the price level. A change in aggregate expenditures is ONLY caused by a change in the price level. This is one of two changes related to aggregate demand. The other is a change in aggregate demand. A change in aggregate expenditures is comparable to a change in quantity demanded.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for slow moving vehicles with darkened windows.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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IJIO
International Journal of Industrial Organization
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