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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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SLOPE, CONSUMPTION LINE The positive slope of the consumption line is also termed the marginal propensity to consume (MPC). This slope is greater than zero but less than one, reflecting induced consumption and the Keynesian psychological law of consumer behavior that consumption increases by less than the increase in income. The slope of the consumption line provides the foundation for the slope of the aggregate expenditures line and thus also affects the magnitude of the multiplier process.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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OTS
Office of Thrift Supervision
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