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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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DERIVATION, AGGREGATE EXPENDITURES LINE

An aggregate expenditures line, a graphical depiction of the relation between aggregate expenditures and the level of aggregate income or production, can be derived by sequentially adding expenditures by the four macroeconomic sectors (household, business, government, and foreign). This derivation process begins with the consumption line, then adds investment, government purchases, and finally net exports. The process actually generates three alternative aggregate expenditures lines based on the number of sectors included (two sector, three sector, and four sector).

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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for high interest rates.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"He who has begun has half done. Dare to be wise ‚ begin! "

-- Horace, poet, satirist

LTT
Long-Term Trend
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