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AGGREGATE MARKET: 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 aggregate market, 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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AUTONOMOUS GOVERNMENT PURCHASES Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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AS
Aggregate Supply
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