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NET DOMESTIC PRODUCT: The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net domestic product, usually abbreviated NDP, is one of five key National Income and Product Accounts measures reported regularly (every three months) by the Bureau of Economic Analysis. The other four measures are gross domestic product, national income, personal income, and disposable income. Net domestic product has largely replaced a comparable term, net national production.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who doesn't particular care how something looks as long as it works, as long as it does the job. Family and friends can always count on you when they need help moving furniture. Today, you are likely to spend a great deal of time at a garage sale trying to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for slow moving vehicles with darkened windows. You should consider shopping at stores or businesses beginning with the letter B, but do not buy any products with a serial number or product code containing the number 609779. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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LONG-RUN AGGREGATE SUPPLY CURVE A graphical representation of the long-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The long-run aggregate supply curve, abbreviated LRAS, is one of two curves that graphically capture the supply-side of the aggregate market. The other is the short-run aggregate supply curve. The demand-side of the aggregate market is occupied by the aggregate demand curve. The vertical long-run aggregate supply curve captures the independent relation between real production and the price level that exists in the long run.
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A Perfect Picture Of PROFITGood news! Manny Mustard, my long-time friend and proprietor of Manny Mustard's House of Sandwiches is having a special on his Deluxe Club Sandwich. Let's drop in for a brief respite -- and lunch. More good news! Manny is bubbling profusely about the vitality of his business. Last month he turned a profit. Yes, that much cherished profit, the goal of business firms, be they large or small. Upon closer inspection Manny's profit calculation might be suffering from an oversight or two. It seems as though Manny neglected to pay himself a wage. Nor did he bother to include any interest expense on the savings he invested in his House of Sandwiches venture. But what the heck, he earned a profit -- didn't he?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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MPC
Marginal Propensity to Consume
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