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REAL PURCHASING POWER: The ability to acquire wants-and-needs satisfying goods and services with income or money. The real purchasing power of income or money depends on the prices of the goods and services. If the price level, for example, doubles, then a given amount of money can purchase half as many goods and services.
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THREE-SECTOR AGGREGATE EXPENDITURES LINE A graphical depiction of the relation between aggregate expenditures by the three domestic macroeconomic sectors (household, business, and government) and the level of aggregate income or production. The three-sector aggregate expenditures line combines consumption expenditures, investment expenditures, and government purchases. The slope of this aggregate expenditures line is based on the marginal propensity to consume, adjusted for marginal propensities of the other expenditures that are assumed to be induced when constructing the line. This is one of three aggregate expenditures lines based on the number of sectors included. The others are the two-sector aggregate expenditures line and the four-sector aggregate expenditures line.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for poorly written technical manuals.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"I feel sorry for the person who canžt get genuinely excited about his work. Not only will he never be satisfied, but he will never achieve anything worthwhile. " -- Walter Chrysler, automaker
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APC
Average Propensity to Consume
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