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AGGREGATE EXPENDITURES LINE: A line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.
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EMPIRICAL Based on or relating to the collection or analysis of real world data. The term empirical is commonly used as a modifier to provide contrast with theoretical. Whereas theoretical refers to abstract representations, empirical indicates actual real world observations.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for malfunctioning pocket calculators.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood." -- Richard Branson, Virgin Group founder
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BACS
Bankers Automated Clearing Services
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