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HORIZONTAL ADDITION: In graphical analysis, the technique of combining two curves by adding the value of the variable on the horizontal or X axis for a given value of the variable on the vertical or Y axis. This is commonly done when deriving a market demand curve from a set of individual demand curves. The quantity demanded by every individual is added at a given price to identify the total market demand at that price.
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CHANGE IN REAL PRODUCTION: The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. This should be contrasted directly with a change in aggregate supply. You might also want to review the terms change in quantity supplied and change in supply, as well. A change in real production for short-run aggregate supply actually means real production changes with a movement along a given SRAS. However, a "change in real production" for long-run aggregate supply really refers to a movement along a given LRAS curve and doesn't actually involve a change in production. A change in real production means that we have identified a NEW price level-real production combination on the existing aggregate supply curve. In contrast, a change in aggregate supply means that we have changed, moved, or shifted, the entire aggregate supply curve, the whole range of price levels and real production amounts has changed. See also | aggregate supply | long-run aggregate supply curve | short-run aggregate supply curve | aggregate supply determinants | price level | real production | change in aggregate supply | change in quantity supplied | change in supply | market supply |
Recommended Citation:CHANGE IN REAL PRODUCTION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 12, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: change in real production
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REVENUE EFFECT The generation of revenue used to finance government operations that results from placing taxes on economic activity. The revenue effect is the primary reason that governments impose taxes on members of society. Without the revenue generated from taxes, governments could not provided valuable and essential public goods nor undertake other government operations. This is one of two effects of taxation. The other is the allocation effect, which is the change in resource allocation that results because taxes create disincentives to produce, consume, and exchange.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for deranged pelicans.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Nothing ever built arose to touch the skies unless some man dreamed that it should, some man believed that it could, and some man willed that it must. " -- Charles Kettering, inventor
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BIF
Bank Insurance Fund
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