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AGGREGATE: A common modifier for an assortment of economic terms used in the study of macroeconomics that signifies a comprehensive, often national, total value. This modifier most often surfaces in the study of the AS-AD, or "aggregate market", model of the economy with such terms as aggregate demand and aggregate supply. For example, aggregate demand indicates the total demand for production in the macroeconomy and aggregate supply indicates the total amount of that output produced. Two other noted "aggregate" terms are aggregate expenditures and aggregate production function.
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SLOPE, AGGREGATE EXPENDITURES LINE The positive slope of the aggregate expenditures line is the sum of the marginal propensity to consume (MPC), marginal propensity to invest (MPI), and marginal propensity for government purchases (MPG), less the marginal propensity to import (MPM). This slope is greater than zero but less than one, reflecting induced expenditures by the four macroeconomic sectors (household, business, government, and foreign). The slope of the aggregate expenditures line determines the magnitude of the multiplier process.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for cardboard boxes.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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ICTB
International Customs Tariffs Bureau
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