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AGGREGATE: A common modifier for an assortment of economic terms used in the study of macroeconomics that signifies a comprehensive, often national, total value. This modifier most often surfaces in the study of the AS-AD, or "aggregate market", model of the economy with such terms as aggregate demand and aggregate supply. For example, aggregate demand indicates the total demand for production in the macroeconomy and aggregate supply indicates the total amount of that output produced. Two other noted "aggregate" terms are aggregate expenditures and aggregate production function.
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UNEMPLOYMENT, PRODUCTION POSSIBILITIES Unemployment is the condition that exists when some available resources are NOT engaged in the production of goods and services. In other words, some resources that could be used for production are not being used. This is indicated in production possibilities analysis by producing a combination of goods that places the economy inside the production possibilities curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for fairy dust that tastes like salt.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. " -- John Quincy Adams, 6th U. S. president
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ACIR
Advisory Council on Intergovernmental Relations
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