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July 18, 2025 

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MACROECONOMY: The aggregate, or national economy that is the prime focus of the study of macroeconomics.

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PLANT: The physical capital (building and equipment) at a particular location used for the production of goods and services. While the term plant is occasional used synonymously with the terms firm or business, when economists get down to specifics, which they are prone to do, the term plant is used ONLY for a specific production facility. As such, it best used synonymously with the term factory.

     See also | firm | factory | capital | physical capital | business |


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PLANT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].


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AGGREGATE DEMAND INCREASE, LONG-RUN AGGREGATE MARKET

A shock to the long-run aggregate market caused by an increase in aggregate demand resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.

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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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