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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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DERIVATION, CONSUMPTION LINE A consumption line, a graphical depiction of the relation between household sector consumption and income, can be derived from a simple consumption schedule, a table or chart showing the relation between household sector consumption and income. This is easily accomplished by plotting the consumption-income pairs from the schedule as points in a diagram that measures consumption on the vertical axis and income on the horizontal axis, then connection the points with a line. The consumption line can also be derived directly by plotting the consumption function using slope and intercept values.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a country wreathe or galvanized steel storage shelves. Be on the lookout for malfunctioning pocket calculators.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Education is the ability to listen to almost anything without losing your temper or your self-confidence. " -- Robert Frost
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SUR
Seemingly Unrelated Regressions
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