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AGGREGATION: The process of adding up, summing, or otherwise identifying the total value of a variable or measure, especially when used in the study of macroeconomics. Common items that are aggregated are demand, supply, and expenditures on gross domestic product, which result in aggregate demand, aggregate supply, and aggregate expenditures.
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NET EXPORTS OF GOODS AND SERVICES The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring net exports by the foreign sector. Net exports of goods and services is the smallest of the four expenditures, averaging around 2 percent of gross domestic product. Unlike the other expenditures, net exports of goods and services can be either positive or negative. They are positive when exports are greater than imports and negative when exports are less than imports. In recent years, net exports of goods and services have been negative. The other official expenditures included in the National Income and Product Accounts are personal consumption expenditures, gross private domestic investment, and government consumption expenditures and gross investment.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for letters from the Internal Revenue Service.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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AEA
American Economic Association
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