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AGGREGATE EXPENDITURE DETERMINANTS: An assortment of ceteris paribus factors that affect aggregate expenditures, but which are assumed constant when the aggregate expenditure line is constructed. Changes in any of the aggregate expenditures determinants cause the aggregate expenditure line to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate expenditure line to shift, it's usually most convenient to group them into the four, broad expenditure categories -- consumption, investment, government purchases, and net exports. The reason is that changes in these expenditures are the direct cause of shifts in the aggregate expenditure line. If any determinant affects aggregate expenditures it MUST affect one of these four expenditures.
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EXCESS RESERVES The reserves (vault cash and Federal Reserve deposits) that banks have over and above what they are required by government to keep to back up deposits. The primary use of excess reserves, also termed free reserves, is for loans to consumers and businesses. Because reserves do not generate interest, revenue, or profit, banks are inclined to keep as few excess reserves as possible.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for fairy dust that tastes like salt.
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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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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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