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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.

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GOOD TYPES: We can identify four different types of goods based on two key characteristics -- rival consumption and excludability. Private that are rival in consumption and easily subject to the exclusion of nonpayers. Public goods that are nonrival in consumption and the exclusion of nonpayers is virtually impossible. Near-public goods that are nonrival in consumption and easily subject to the exclusion. Common-property goods that are rival in consumption and not easily subject to the exclusion.

     See also | rival consumption | excludability | government functions | private good | public good | near-public good | common-property good | regulation | taxes | pollution | market |


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GOOD TYPES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: July 4, 2022].


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MARGINALLY-ATTACHED WORKERS

People who are willing and able to work, who have either held a job or searched for employment within the last year, but are not actively seeking employment. Discouraged workers, people who are willing and able to engage in productive activities, but due to their overwhelming lack of success believe that any effort to find a job will be fruitless so they have stopped seeking employment, fall within this broader category of marginally-attached workers. People can be marginally attached to the labor force for a variety of reasons, discouraged workers, in contrast, achieve their designation specifically because they believe search efforts are not worthwhile.

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Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for letters from the Internal Revenue Service.
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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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