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DETERMINANT: A ceteris paribus factor that is held constant when a curve is constructed. Changes in these factors then cause the curve to shift to a new location. The most common determinants are demand determinants for the demand curve (income, preferences, other prices, buyers' expectations, and number of buyers) and supply determinants for the supply curve (resource prices, technology, other prices, buyers' expectations, and number of buyers). Other common curves and their determinants include: production possibilities curve (technology, education and the quantities of labor, capital, land, and entrepreneurship); aggregate demand curve (the four aggregate expenditures of consumption, investment, government purchases, and net exports); and short-run average cost curve (technology, wages, and other production cost).
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DISPOSABLE INCOME The total income that can be used by the household sector for either consumption expenditures or saving during a given period of time, usually one year. Disposable income (DI) is one of three measures of income reported in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are national income (NI) and personal income (PI). Two related measures of production are gross domestic product (GDP) and net domestic product (NDP).
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for small children selling products door-to-door.
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The average length of a "business lunch" is about 36 minutes.
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"The less secure a man is, the more likely he is to have extreme prejudices. " -- Clint Eastwood, actor, director
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JEP
Journal of Economic Perspectives
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