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X: The standard abbreviation for exports produced by the foreign sector and purchased by the domestic economy, especially when used in the study of macroeconomics. This abbreviation is most often seen in the aggregate expenditure equation, AE = C + I + G + (X - M), where C, I, G, and (X - M) represent expenditures by the four macroeconomic sectors, household, business, government, and foreign. The United States, for example, sells a lot of the stuff produced within our boundaries to other countries, including wheat, beef, cars, furniture, and, well, almost every variety of product you care to name.
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AGGREGATE EXPENDITURES LINE A graphical depiction of the relation between aggregate expenditures by the four macroeconomic sectors (household, business, government, and foreign) and the level of aggregate income or production. In Keynesian economics, the aggregate expenditures line is the essential component of the Keynesian cross analysis used to identify equilibrium income and production. Like any straight line, the aggregate expenditures line is characterized by vertical intercept, which indicates autonomous expenditures, and slope, which indicates induced expenditures. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking investment, government purchases, and net exports to the consumption line.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for fairy dust that tastes like salt.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as long as we live." -- Mortimer Adler
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WLLN
Weak Law of Large Numbers
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