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AGGREGATE DEMAND DETERMINANT: A ceteris paribus factor that affects aggregate demand, but which is assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate demand curve to shift, it's usually most convenient to group them into the four, broad expenditure categories -- consumption, investment, government purchases, and net exports. The reason is that changes in these expenditures are the direct cause of shifts in the aggregate demand curve. If any determinant affects aggregate demand it MUST affect one of these four expenditures.
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Lesson 16: Perfect Competition | Unit 2: Short-Run Output
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Page: 7 of 28
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Topic:
The Revenue Numbers
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The revenue side of a typical perfectly competitive firm is presented in this table.- Quantity (Q): The quantity of output produced by the firm, presented in the first column, ranges from 0 to 10 units.
- Price (P): The second column presents the price received by the firm. This is the market price.
- Total Revenue (TR): The firm's total revenue is presented in the third column.
- Average Revenue (AR): The fourth column presents average revenue, which is total revenue per unit of output, or total revenue divided by the quantity.
- Marginal Revenue (MR): The fifth column presents marginal revenue, the change in total revenue divided by the change in quantity.
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LABOR FORCE PARTICIPATION RATE The proportion of the total noninstitutionalized civilian population 16 years of age and over that is in the civilian labor force. The labor force participation rate is essentially the ratio of the civilian labor force to the total noninstitutionalized civilian population 16 years of age and over. The data used to estimated the labor force participation rate is obtained along with other labor force data from the monthly Current Population Survey conducted by the Bureau of the Census for the Bureau of Labor Statistics. Labor force participation rates are also commonly calculated using data derived from the Census of the Population.
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GREEN LOGIGUIN [What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a T-shirt commemorating the first day of winter or software that won't crash your computer. Be on the lookout for pencil sharpeners with an attitude. Your Complete Scope
This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." -- William Ward ‚ Texas Wesleyan University Administrator
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CME Chicago Mercantile Exchange
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