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X: The standard abbreviation for exports produced by the foreign sector and purchased by the domestic economy, especially when used in the study of macroeconomics. This abbreviation is most often seen in the aggregate expenditure equation, AE = C + I + G + (X - M), where C, I, G, and (X - M) represent expenditures by the four macroeconomic sectors, household, business, government, and foreign. The United States, for example, sells a lot of the stuff produced within our boundaries to other countries, including wheat, beef, cars, furniture, and, well, almost every variety of product you care to name.
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EXCLUDABILITY: The ability to keep people who don't pay for a good from consuming the good. For some goods, it's very easy (that is, the cost is low) for owners or producers to keep others from enjoying the benefit of a good. Examples of this abound, like candy bars, shoes, houses, computers, and well a bunch of other stuff. Other goods, however, prove more difficult to keep the nonpayers away. Examples of these include oceans, national defense, and fireworks displays. Excludability is one of the two key characteristics of a good (the other is rival consumption) that distinguishes between common-property goods, near-public goods, private goods, and public goods. See also | good types | rival consumption | common-property good | near-public good | private good | public good | market failure | externalities |
Recommended Citation:EXCLUDABILITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 12, 2025].
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LONG-RUN AGGREGATE SUPPLY The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply, commonly abbreviated LRAS, is one of two aggregate supply alternatives, distinguished by the degree of price flexibility. The other is short-run aggregate supply. Long-run aggregate supply is combined with aggregate demand, and often short-run aggregate supply, in the long-run aggregate market (or AS-AD) analysis used to analyze economic growth, business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for small children selling products door-to-door.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"What gets measured gets done." -- Peter Drucker, educator
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Q-RATIO
Ratio of Total Market Value of Physical Assets
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