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AGGREGATE EXPENDITURE LINE: 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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QUANTITY The amount of a commodity (good, service, or resource) that is produced, consumed, bought, sold, or exchanged. The quantity of a commodity is often the focus of economic analysis. It takes center stage in the market model, as well as the theories of short-run production and consumer demand theory. In the standard market diagram, as well as most other analyses, quantity is displayed on the horizontal axis.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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BNA
Bureau of National Affairs
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