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AGGREGATE DEMAND DETERMINANTS: An assortment of ceteris paribus factors that affect aggregate demand, but which are assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate demand curve 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 demand curve. If any determinant affects aggregate demand it MUST affect one of these four expenditures.
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LOGROLLING The trading of votes to ensure a favorable outcome for two or more separate decisions. Logrolling occurs when each of two people agree to vote for the other's project to ensure that both are passed. A votes for B and B votes for A. Logrolling is commonly used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord. Explicit logrolling is when each of two voters agree to cast separate votes for two separate programs. Implicit logrolling is when two separate programs or policies are combined into a single package, which is then subject to a single vote. Logrolling can generate either an efficient or an inefficient allocation of resources, meaning that efficiency is irrelevant to the logrolling process.
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Paying TAXESThe time has come to take a firm stand! The Shady Valley Gazette Tribune-Journal has published an inflammatory editorial calling for a "pedestrian" tax on anyone who ambles around the economy. This tax, as every pedestrian would surely agree, is misguided and short-sighted. It's also unfair and probably unconstitutional. How DARE the editors of the Shady Valley Gazette Tribune-Journal call for a "pedestrian" tax. Sure they argue that ambling pedestrians should help pay for the sidewalks, traffic signals, and other assorted public goods. But, it's certainly not in MY best interest as a pedestrian to pay this misguided, short-sighted, unfair, and probably unconstitutional tax.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"In every man's life there lies latent energy. There is, however, a spark that, if kindled, will set the whole being afire, and he will become a human dynamo, capable of accomplishing almost anything to which he aspires. " -- James Cash Penney, retailer
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TP
Total Product
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