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LABOR SLOWDOWN: A technique used by workers, generally labor union members, who reduce their productivity in an attempt to achieve a particular goal or objective. The goal pursued tends to be relatively minor, such as better lighting, and thus not worth engaging in a formal strike.
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Lesson 13: Aggregate Demand | Unit 2: Doing More
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Page: 8 of 22
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The foreign sector, everyone who is not a citizen of our domestic economy, also purchases domestic production. These are termed net exports. Net exports are exports minus imports. - Exports are purchases of domestic production by the foreign sector.
- Imports are the purchases of foreign production by the domestic sector.
- Net exports gives us an overall picture of how our economy interacts with the foreign sector.
- Calculating net exports by subtracting imports gives us aggregate expenditures on domestic production only.
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VALUE IN EXCHANGE The ability to trade an item or asset, especially money, for other goods and services that can then be used to satisfy wants and needs. Value in exchange means that value (that is, satisfaction) is obtained indirectly through the acquisition of something else. For an item to have value in exchange it need NOT have value in use, value obtained directly from the consumption of a good or service.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Experience keeps a dear school, but fools will learn in no other. " -- Benjamin Franklin
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MLR
Minimum Lending Rate
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