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S&P 500: The abbreviation for the Standard & Poor's 500, an index of the prices of 500 corporate stocks traded on the New York Stock Exchange. It includes an assortment of stocks for industrial, transportation, and utility companies. It also includes a larger number of stocks than the comparable Dow Jones composite index, which means it's often considered a better measure of the overall performance of the stock market. Less commonly publicized are separate Standard & Poor's indexes for industrial, transportation, utility, and financial stocks.

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Lesson 13: Aggregate Demand | Unit 1: The Concept Page: 1 of 22

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In this lesson we take a look at the demand side of the aggregate market (AD/AS analysis)--aggregate demand.

A definition:

Aggregate Demand is the aggregate or total expenditure on final goods and services produced in the domestic economy, at a range of price levels, during a given time period (usually a year).

Three points:

  • Expenditures are made by all members of society.
  • Expenditures are made during the year.
  • Expenditures are on the production that people use to satisfy wants and needs.
Aggregate demand is only one side of the aggregate market--the expenditure side--the other side is aggregate supply--the producing side.
  • Expenditures come from the household, business, government, and foreign sectors.
  • Production comes from resources--labor, capital, land, and entrepreneurship.
  • The aggregate market is a model used to analyze the economy's total production and the price level.
  • This analysis, also called AD/AS, lets us understand macroeconomic events, like recessions, inflation, and unemployment.
  • The aggregate market can be used to evaluate the effects of government policies.

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AGGREGATE MARKET ANALYSIS

An investigation of macroeconomic phenomena, including unemployment, inflation, business cycles, and stabilization policies, using the aggregate market interaction between aggregate demand, short-run aggregate supply, and long-run aggregate supply. Aggregate market analysis, also termed AS-AD analysis, has been the primary method of macroeconomic analysis since replacing Keynesian economics in the 1980s. Like most economic analysis, aggregate market analysis employs comparative statics, the technique of comparing the equilibrium after a shock with the equilibrium before a shock.

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Today, you are likely to spend a great deal of time at an auction trying to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for crowded shopping malls.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

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