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AGGREGATION: The process of adding up, summing, or otherwise identifying the total value of a variable or measure, especially when used in the study of macroeconomics. Common items that are aggregated are demand, supply, and expenditures on gross domestic product, which result in aggregate demand, aggregate supply, and aggregate expenditures.
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EQUILIBRIUM, LONG-RUN AGGREGATE MARKET The state of equilibrium that exists in the long-run aggregate market when real aggregate expenditures are equal to full-employment real production with no imbalances to induce changes in the price level or real production. The opposing forces of aggregate demand (the buyers) and long-run aggregate supply (the sellers) exactly offset each other. At the existing price level, the four macroeconomic sectors (household, business, government, and foreign) purchase all of the real production that they seek and producers sell all of the real production that they have.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for rusty deck screws.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Plans are only good intentions unless they immediately degenerate into hard work." -- Peter Drucker, management consultant
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FOW
Free on Wagon
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