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AGGREGATE EXPENDITURES LINE: A line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.
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MARGINAL FACTOR COST, PERFECT COMPETITION The change in total factor cost resulting from a change in the quantity of factor input employed by a perfectly competitive firm. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a flower arrangement with daisies and carnations for your uncle or a coffee cup commemorating next Thursday. Be on the lookout for letters from the Internal Revenue Service.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"How wonderful it is that nobody need wait a single moment before starting to improve the world. " -- Anne Frank, diarist
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AV
Actual Value
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