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AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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GROSS DOMESTIC PRODUCT, EXPENDITURES A method of estimating gross domestic product (GDP) based on identifying the aggregate expenditures (consumption expenditures, investment expenditures, government purchases, and net exports) made by the four macroeconomic sectors (household, business, government, and foreign). This is one of two methods used by the Bureau of Economic Analysis in the National Income and Product Accounts to estimate gross domestic product. The other identifies the value of total production from the income received by the resource owners.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Nearly all men can stand adversity; but if you want to test a manžs character, give him power. " -- Abraham Lincoln, 16th U.S. President
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SBDC
Small Business Development Center
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