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OIKONOMOS: This rather strange word is a greek term meaning "household manager" or "household steward" that gave rise to the modern term economy and the whole range of related terms, including economic, economics, economist, and economize. Ironically there are those who use economics less with the goal of providing "stewardship" of the economy and more focused on the goal of extracting maximum personal gain.
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Lesson 8: Market Shocks | Unit 4: Double Shifts
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Page: 17 of 20
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- How the market equilibrium can be disrupted by simultaneous shifts in the demand and supply curves.
- The four possible double shifts in the market: more demand and less supply, more demand and more supply, less demand and less supply, and less demand and more supply.
- That an increase in demand and an increase in supply results in an increase in quantity and an indeterminant change in price.
- That an increase in demand and a decrease in supply results in an increase in price and an indeterminant change in quantity.
- That a decrease in demand and a decrease in supply results in a decrease in quantity and an indeterminant change in price.
- That a decrease in demand and an increase in supply results in an decrease in price and an indeterminant change in quantity.
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AUTONOMOUS EXPENDITURES Expenditures on aggregate production by the four macroeconomic sectors that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an autonomous component. Autonomous expenditures are affected by the ceteris paribus aggregate expenditures determinants and are measured by the intercept term of the aggregate expenditures line. The alternative to autonomous expenditures are induced expenditures, expenditures which do depend on income.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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MCA
Monetary Control Act of 1980
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