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LONG-RUN AGGREGATE SUPPLY CURVE: A graphical representation of the long-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The long-run aggregate supply, or LRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market; the other is the short-run aggregate supply curve (SRAS). The demand-side of the aggregate market is occupied by the aggregate demand curve. The vertical LRAS curve captures the independent relation between real production and the price level that exists in the long run.
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KEYNESIAN CROSS A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Do not stop thinking of life as an adventure. You have no security unless you can live bravely, excitingly, imaginatively, unless you can choose a challenge instead of a competence. " -- Eleanor Roosevelt, first lady
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DI
Disposable Income
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