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WILLINGNESS TO PAY: The price or dollar amount that someone is willing to give up or pay to acquire a good or service. Willingness to pay is the source of the demand price of a good. However, unlike demand price, in which buyers are on the spot of actually giving up the payment, willingness to pay does not require an actual payment. This concept is important to benefit-cost analysis, welfare economics, and efficiency criteria, especially Kaldor-Hicks efficiency. A related concept is willingness to accept.
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AGGREGATE EXPENDITURES The total expenditures on gross domestic product undertaken in a given time period by the four sectors--household, business, government, and foreign. Expenditures made by each of these sectors are commonly termed consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism. In particular, aggregate expenditures are combined with the price level as aggregate demand.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall hoping to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for attractive cable television service repair people.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"One person with a belief is equal to a force of ninety-nine with only interests." -- John Stuart Mill
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GNMA
Government National Mortgage Association
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