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CAPITAL CONSUMPTION ADJUSTMENT: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis that measures the macroeconomy's capital depreciation during a given time period, usually one year. The capital consumption adjustment, which is also commonly termed the capital consumption allowance, both of which conveniently go by the abbreviation of CCA, is subtracted from gross domestic product (GDP) to calculate net domestic product (NDP). The CCA is also subtracted from gross private domestic investment to calculate net private domestic investment.

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Lesson 8: Market Shocks | Unit 4: Double Shifts Page: 14 of 20

Topic: More Demand and Less Supply <=PAGE BACK | PAGE NEXT=>

Here we have demand increasing (higher income) and supply decreasing (number of sellers declines).
  • An increase in demand causes an increase in both price and quantity.
  • A decrease supply causes price to increase and quantity to decrease.
  • The combined effect is an obvious increase in price but a questionable change in quantity.
  • At the new equilibrium the quantity is indeterminant.
  • If demand shifts relatively more than supply, quantity is greater.
  • If demand shifts relatively less than supply, quantity is less.

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AVERAGE PROPENSITY TO CONSUME

The proportion of household income that is used for consumption expenditures. The average propensity to consume (abbreviated APC) is really nothing more than average consumption. Together with the average propensity to save, it indicates how a given level of income is divided between consumption and saving. A related consumption measure is the marginal propensity to consume.

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APLS

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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for strangers with large satchels of used undergarments.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

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