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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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MARGINAL PROPENSITY TO IMPORT The change in imports purchased from the foreign induced by a change in income or production (national income or gross domestic product). The marginal propensity to import (abbreviated MPM) is another term for the slope of the imports line and is calculated as the change in imports divided by the change in income or production. The MPM plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part to the multiplier process. A related marginal measure is the marginal propensity to consume.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales trying to buy either a genuine down-filled comforter or a 200-foot blue garden hose. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"My life as a writer consists of 1/8 talent and 7/8 discipline. " -- John Irving, writer
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L/O
Letter of Offer
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