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INTERCEPT, AGGREGATE EXPENDITURES LINE: The intercept of the aggregate expenditures line indicates autonomous expenditures, aggregate expenditures that do not depend on the level of income or production. This can be thought of as aggregate expenditures that the four macroeconomic sectors (household, business, government, and foreign) undertake regardless of the state of the economy. Autonomous expenditures are affected by the aggregate expenditures determinants, which cause a change in the intercept and a shift of the aggregate expenditures line.
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CONSUMER SOVEREIGNTY The notion that consumers ultimately determine what goods and services are produced and how the economy's limited resources are used based on the purchases they make. Consumers thus reign over the economy as sovereign rulers.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for gnomes hiding in cypress trees.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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AGI
Adjusted Gross Income
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