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AGGREGATE DEMAND: The total (or aggregate) real expenditures on final goods and services produced in the domestic economy that buyers would willing and able to make at different price levels, during a given time period (usually a year). Aggregate demand (AD) is one half of the aggregate market analysis; the other half is aggregate supply. Aggregate demand, relates the economy's price level, measured by the GDP price deflator, and aggregate expenditures on domestic production, measured by real gross domestic product. The aggregate expenditures are consumption, investment, government purchases, and net exports made by the four macroeconomic sectors (household, business, government, and foreign).
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UTILITY MEASUREMENT A quantification of the satisfaction of wants and needs achieved through the consumption of goods and services. In principle, utility measurement can take one of two forms: (1) cardinal, which is based on numerical values (1, 2, 3, etc.) and (2) ordinal which is based on rankings (first, second, third, etc.). While the hypothetical instructional analysis of utility relies on cardinal utility, ordinal utility is a more realistic way to measure satisfaction.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"You just don't luck into things as much as you'd like to think you do. You build step by step, whether it's friendships or opportunities. " -- Barbara Bush, first lady
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AMW
Average Monthly Wage
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