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KEYNESIAN AGGREGATE EXPENDITURE MODEL: The generic term for several graphical models used to analysis the basic components of Keynesian economics and to identify Keynesian equilibrium as the intersection of the aggregate expenditures line and the 45-degree line. Differences among the specific models are based on which sectors are included (household, business, government, and foreign) and whether expenditures are induced or autonomous.
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ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for poorly written technical manuals.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Success is going from failure to failure without a loss of enthusiasm. " -- Winston Churchill, British statesman
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USM
Unlisted Securities Market
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