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DEMAND DETERMINANTS: Five basic ceteris paribus factors that affect demand, but which are assumed constant when a demand curve is constructed. Changes in any one causes a shift of the demand curve. The five demand determinants are: income, preferences, other prices, buyers' expectations, and number of buyers.
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AGGREGATE DEMAND INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate demand resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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CES
Constant Elasticity of Substitution
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