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April 14, 2024 

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AGGREGATE: A common modifier for an assortment of economic terms used in the study of macroeconomics that signifies a comprehensive, often national, total value. This modifier most often surfaces in the study of the AS-AD, or "aggregate market", model of the economy with such terms as aggregate demand and aggregate supply. For example, aggregate demand indicates the total demand for production in the macroeconomy and aggregate supply indicates the total amount of that output produced. Two other noted "aggregate" terms are aggregate expenditures and aggregate production function.

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STRIKE: An agreement of workers, usually the members of a union, to stop working. The objective of a strike is to encourage an employer to raise workers' wages or to improve working conditions. Strikes can be a powerful tool for unions to overcome the market control of employers or to gain a negotiating edge in collective bargaining. They can also create frustrating production bottlenecks that are ultimately suffered by underappreciated consumers.

     See also | union | market control | collective bargaining | lockout | boycott | arbitration | mediation | wildcat strike | sympathy strike | general strike | labor slowdown |


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STRIKE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 14, 2024].


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GOVERNMENT EXPENDITURES

Spending by the government sector including both the purchase of final goods and services, or gross domestic product, and transfer payments. Government expenditures are used by the government sector to undertake key functions, such as national defense and education. These expenditures are financed with a combination of taxes and borrowing.

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