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KEYNESIAN CROSS: The standard diagram used in Keynesian economics to identify the equilibrium level of aggregate output (that is, gross domestic product), with aggregate expenditures measured on the vertical axis, and aggregate output measured on the horizontal axis. This diagram contains two key lines, the aggregate expenditure line and the 45-degree line. Intersection between these lines indicates equilibrium aggregate output. This intersection, or cross, is what gives rise to the name.

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MONEY CHARACTERISTICS: Almost any item, any asset, any "thing" can function as money so long as it is generally accepted as payment. In fact, a lot of different "things" have been used as money over the centuries. While a number of "things" have been used as money, some have worked better than others. Those "things" that didn't work so well were replaced by other "things" that worked better. Those "things" that worked best tended to have four basic characteristics: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability.

     See also | money | money functions | barter | currency | checkable deposits |


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MONEY CHARACTERISTICS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 28, 2022].


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VALUE

The worth members of society place on a good, service, resource, commodity, or other asset, which is based on the direct or indirect satisfaction of wants and needs generated. In an economy that uses markets to exchange commodities, value is commonly indicated by price and measured by the economy's monetary unit.

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Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for slow moving vehicles with darkened windows.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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Employee Retirement Income Security Act of 1974
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