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SECOND BANK OF THE UNITED STATES: The second attempt by the United States to created a central bank. The second bank was established in 1816 and when defunct in 1836, when it lost a political battle with President Andrew Jackson. The United States did not seek another central bank until the Federal Reserve System was established in 1913.
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AGGREGATE OUTPUT: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply. This is the total production in the economy that is purchased by the four basic economic sectors -- household, business, government, and foreign. See also aggregate market, aggregate demand, aggregate expenditures. See also | gross domestic product | production | final goods | real production | aggregate supply | aggregate demand | aggregate market | aggregate expenditures | consumption expenditures | investment expenditures | government purchases | net exports | household sector | business sector | government sector | foreign sector | price level | macroeconomics |
Recommended Citation:AGGREGATE OUTPUT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: June 10, 2023].
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AGGREGATE EXPENDITURES LINE A graphical depiction of the relation between aggregate expenditures by the four macroeconomic sectors (household, business, government, and foreign) and the level of aggregate income or production. In Keynesian economics, the aggregate expenditures line is the essential component of the Keynesian cross analysis used to identify equilibrium income and production. Like any straight line, the aggregate expenditures line is characterized by vertical intercept, which indicates autonomous expenditures, and slope, which indicates induced expenditures. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking investment, government purchases, and net exports to the consumption line.
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for neighborhood pets, especially belligerent parrots.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"No task is a long one but the task on which one dare not start: It becomes a nightmare. " -- Charles Baudelaire, poet-critic
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EU
European Union
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