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AE LINE: Another term for aggregate expenditure line, which is a line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.
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WORLD VIEW An aspect of a scientific theory that includes fundamental, and unverifiable, axioms, beliefs, and values about how the world works. One example of an unverifiable world view axiom is belief in the existence of a supreme, omnipotent, omniscience being--that is, God. Political philosophies, which are essential to economic theories and policies, are intertwined with alternative world views.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for malfunctioning pocket calculators.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"The greatest barrier to success is the fear of failure." -- Sven Goran Eriksson, writer
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APEC
Asia-Pacific Economic Co-operation
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