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CHANGE IN AGGREGATE EXPENDITURES: The movement along an aggregate demand curve caused by a change in the price level. This should be contrasted directly with a change in aggregate demand. You might also want to review the terms change in quantity demanded and change in demand, as well. A change in aggregate expenditures means that we have identified a NEW level of expenditures on the existing aggregate demand curve. In contrast, a change in aggregate demand means that we have changed, moved, or shifted, the entire aggregate demand curve, the whole range of price levels and aggregate expenditures has changed.
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MARKET ADJUSTMENT The economic analysis of changes in market equilibrium caused by changes in any of the five demand determinants and/or the five supply determinants. Market adjustment comes in one of eight varieties, given that the two curves comprising the market (demand curve and supply curve) can either increase or decrease, individually or simultaneously. Four adjustments involve a shift of EITHER the demand curve OR the supply curve. The other four adjustments involve shifts of BOTH the demand curve AND the supply curve.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for crowded shopping malls.
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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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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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CES
Constant Elasticity of Substitution
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