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POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called government or economic policies. The four common types of policies are: fiscal, monetary, regulatory, and judicial.
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Lesson 14: Production | Unit 4: Long-Run Production
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Page: 17 of 25
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- An important notion:
- Most firms operate in the short run and long run simultaneously.
- Firms engage in day-to-day production activities -- combining inputs to produce output guided by short-run production principles, especially the law of diminishing marginal returns.
- However, at the same time they are making plans to change any fixed inputs, plans that take time to implement.
- For this reason, the long run is often termed the planning period or planning horizon.
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INTERCEPT, AGGREGATE EXPENDITURES LINE The intercept of the aggregate expenditures line indicates autonomous expenditures, aggregate expenditures that do not depend on the level of income or production. This can be thought of as aggregate expenditures that the four macroeconomic sectors (household, business, government, and foreign) undertake regardless of the state of the economy. Autonomous expenditures are affected by the aggregate expenditures determinants, which cause a change in the intercept and a shift of the aggregate expenditures line.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a country wreathe or galvanized steel storage shelves. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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