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BALANCED-BUDGET MULTIPLIER: The ratio of the change in aggregate output (GDP) to a change in government spending, which are matched by an equal change in taxes. This is termed a balanced-budget multiplier because the change in spending is matched by the change in taxes and thus the government's budget deficit or surplus is neither increased nor decreased. If the government had a balanced budget before the changes, then it has one after the changes.
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AGGREGATE SUPPLY DETERMINANTS An assortment of ceteris paribus factors that affect short-run and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and/or long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, they are commonly grouped into three broad categories--resource quantity, resource quality, and resource price.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for attractive cable television service repair people.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Do you want to be safe and good, or do you want to take a chance and be great?" -- Jimmy Johnson, Football Coach
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JPE
Journal of Political Economy
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