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AGGREGATE OUTPUT: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply. This is the total production in the economy that is purchased by the four basic economic sectors -- household, business, government, and foreign. See also aggregate market, aggregate demand, aggregate expenditures.

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MONETARY AUTHORITY: The government entity responsible for monetary policy and controlling a nation's money supply. In the United States, the Federal Reserve System is the monetary authority. The monetary authority of a nation is often the nation's central bank.

     See also | monetary policy | money supply | Federal Reserve System | central bank |


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DEMAND SPACE

The area on or beneath a demand curve that indicates all possible price-quantity combinations acceptable to buyers. Buyers are willing and able to purchase any price-quantity combination that places them on or below the demand curve, but not above.

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Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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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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