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NOMINAL GROSS DOMESTIC PRODUCT: The total market value, measured in current prices, of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. The key is that nominal gross domestic product is measured in current, or actual prices; the prices buyers actually pay for goods and services purchased. Nominal gross domestic product is also termed current gross domestic product.
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AGGREGATE DEMAND The total real expenditures on final goods and services produced in the domestic economy that buyers are willing and able to undertake at different price levels, during a given time period (usually a year). Aggregate demand, usually abbreviated AD, is an inverse relation between price level and aggregate expenditures. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate supply. Aggregate demand consists of four aggregate expenditures--consumption expenditures, investment expenditures, government purchases, and net exports--made by the four macroeconomic sectors--household, business, government, and foreign.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for telephone calls from long-lost relatives.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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BLS
Bureau of Labor Statistics
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