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KEYNESIAN EQUILIBRIUM: The state of the macroeconomy in which aggregate expenditures are equal to aggregate output. This is illustrated using the income-expenditure model, or Keynesian cross, as the intersection of the aggregate expenditures line and the 45-degree line. The aggregate expenditures line is the summation of consumption expenditures, investment expenditures, government purchases, and net exports. The 45-degree line represents all combinations in which aggregate expenditures equal aggregate output. Keynesian equilibrium is also represented by the saving-investment, or injection-leakage, model as the intersection between the injection line (investment expenditures, government purchases, and exports) and the leakage line (saving, taxes, and imports).
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Lesson 22: Factor Supply | Unit 4: Determinants
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Page: 22 of 25
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In this unit, you should have learned about:- How the standard determinants of market demand and market supply also work as factor supply determinants.
- The role of mobility as a factor supply determinant.
- How geographic mobility -- the movement from one location to another -- varies for different factors of production.
- How occupational mobility -- the movement from one occupation to another -- varies for different factors of production.
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CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS An index of prices of goods and services typically purchased by urban wage earners and clerical workers. This carries the official abbreviation CPI-W to distinguish it from its more famous sister index CPI-U, which is the standard Consumer Price Index for All Urban Workers, (commonly abbreviated simply as CPI). Like the standard CPI, the CPI-W is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a rotisserie oven that can also toast bread or a flower arrangement in a coffee cup for your father. Be on the lookout for poorly written technical manuals.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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WACM
Weak Axiom of Cost Minimization
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