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KEYNESIAN CROSS: The standard diagram used in Keynesian economics to identify the equilibrium level of aggregate output (that is, gross domestic product), with aggregate expenditures measured on the vertical axis, and aggregate output measured on the horizontal axis. This diagram contains two key lines, the aggregate expenditure line and the 45-degree line. Intersection between these lines indicates equilibrium aggregate output. This intersection, or cross, is what gives rise to the name.
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INVESTMENT BORROWING The acquisition of funds through the financial markets by the business sector which are used to finance investment expenditures on capital goods. In terms of the simple circular flow model, this is one of two basic demands for household saving diverted into financial markets. The other is government borrowing.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for door-to-door salesmen.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." -- Johannes Kepler, German Astronomer
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TFP
otal Factor Productivity
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