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AE LINE: Another term for aggregate expenditure line, which is a line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.
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                           CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS: An index of prices of goods and services typically purchased by urban wage earners and clerical workers. This carries the official abbreviation CPI-W to distinguish it from its more famous sister index CPI-U, which is the standard Consumer Price Index for All Urban Workers, (commonly abbreviated simply as CPI). Like the standard CPI, the CPI-W is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-W is a continuation of the original CPI developed early in the 1900s to provide cost-of-living adjustment information to wage-earning workers (which is why the Bureau of LABOR Statistics oversees consumer PRICE indexes). Because the original CPI (now CPI-W) was based on goods and services purchased by wage-earning workers, it was replaced by the newer CPI-U in 1978 to provide a broader, more comprehensive measure of the economy's price level. In particular, the newer CPI-U includes the prices of goods and services purchased by about 80 percent of the non-institutionalized population while the older CPI-W includes about only 32 percent.While the CPI-U is the broader, and presumably more accurate, measure of the macroeconomy's price level, the CPI-W is not a bad measure. The two indexes do tend to move in tandem. For example, the more comprehensive CPI-U for December 2003 is 184.3 while the narrower CPI-W has a value of 179.9. Over two decades (from the 1982-84 base period to 2003), the two indexes differed by only 4.4 index points (or 2.5 percent); not perfect, but not too bad, either.
Recommended Citation:CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: October 30, 2024].
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for letters from the Internal Revenue Service.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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IRT
International Trade Commission
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