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AGGREGATE EXPENDITURE DETERMINANTS: An assortment of ceteris paribus factors that affect aggregate expenditures, but which are assumed constant when the aggregate expenditure line is constructed. Changes in any of the aggregate expenditures determinants cause the aggregate expenditure line to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate expenditure line to shift, it's usually most convenient to group them into the four, broad expenditure categories -- consumption, investment, government purchases, and net exports. The reason is that changes in these expenditures are the direct cause of shifts in the aggregate expenditure line. If any determinant affects aggregate expenditures it MUST affect one of these four expenditures.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who is down-to-earth and pragmatic, practical and sensible, and even a bit folksy. Family and friends never, never, never try to convince you of an alternative point of view, political or otherwise. Today, you are likely to spend a great deal of time browsing about a thrift store wanting to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for a thesaurus filled with typos. You should consider shopping at stores or businesses beginning with the letter R, but do not buy any products with a serial number or product code containing the number 636222. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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LONG-RUN AVERAGE COST CURVE, DERIVATION The long-run average cost curve is the envelope of an infinite number of short-run average total cost curves, with each short-run average total cost curve tangent to, or just touching, the long-run average cost curve at a single point corresponding to a single output quantity. The key to the derivation of the long-run average cost curve is that each short-run average total cost curve is constructed based on a given amount of the fixed input, usually capital. As such, when the quantity of the fixed input changes, the short-run average total cost curve shifts to a new location.
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The Economics Of Dueling POLITICAL VIEWSThere seems to be a disturbance on the steps of the Shady Valley City Hall. Why it's the twins, Donna and Rhonda, engaged in yet another of their long-running, and overly heated, political arguments. Donna, you see, is a devoted Democrat and Rhonda is a rigid Republican. They haven't found much to agree on since, well, come to think of it they've never agreed on anything. In their current debate, Donna is making a strident case for stricter regulation of the banking industry and Rhonda is championing the virtues of free enterprise. I had better hitch up my jogging pants and intervene before their argument comes to blows -- again. While I do, let's ponder the source of differing political views.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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IDA
International Development Association
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