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CHANGE IN AGGREGATE EXPENDITURES: The movement along an aggregate demand curve caused by a change in the price level. This should be contrasted directly with a change in aggregate demand. You might also want to review the terms change in quantity demanded and change in demand, as well. A change in aggregate expenditures means that we have identified a NEW level of expenditures on the existing aggregate demand curve. In contrast, a change in aggregate demand means that we have changed, moved, or shifted, the entire aggregate demand curve, the whole range of price levels and aggregate expenditures has changed.
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PERFECT COMPETITION, CHARACTERISTICS The four key characteristics of perfect competition are: (1) a large number of small firms, (2) identical products sold by all firms, (3) perfect resource mobility or the freedom of entry into and exit out of the industry, and (4) perfect knowledge of prices and technology.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors seeking to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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AR
Average Revenue, Autoregressive
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