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DERIVATION, CONSUMPTION LINE: A consumption line, a graphical depiction of the relation between household sector consumption and income, can be derived from a simple consumption schedule, a table or chart showing the relation between household sector consumption and income. This is easily accomplished by plotting the consumption-income pairs from the schedule as points in a diagram that measures consumption on the vertical axis and income on the horizontal axis, then connection the points with a line. The consumption line can also be derived directly by plotting the consumption function using slope and intercept values.
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AGGREGATE DEMAND AND MARKET DEMAND The aggregate demand curve, or AD curve, has similarities to, but differences from, the standard market demand curve. Both are negatively sloped. Both relate price and quantity. However, the market demand curve is negatively sloped because of the income and substitution effects and the aggregate demand curve is negatively sloped because of the real-balance, interest-rate, and net-export effects.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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CHIPS
Clearing House Interbank Payments Systems (US)
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