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AGGREGATE EXPENDITURE EQUATION: An equation indicating that aggregate expenditures (AE) are the sum of consumption expenditures (C), investment expenditures (I), government purchases (G), and net exports (X-M), stated as: AE = C + I + G + (X-M). This equation surfaces in the Keynesian economic income-expenditure model in the form of the aggregate expenditures line. However, it's also central throughout the study of macroeconomics, including aggregate demand and the measurement of gross domestic product.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who doesn't place a particularly high value on frivolous things, like matching socks. Family and friends have given up asking you out for lunch because you never pick up the check. Today, you are likely to spend a great deal of time at a garage sale hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for the last item on a shelf. You should consider shopping at stores or businesses beginning with the letter I, but do not buy any products with a serial number or product code containing the number 437730. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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PATERNALISM A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be closely supervised by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble.
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A Brief Introduction To Get You StartedThrough undaunted determination, sheer luck, or a missed turnpike exit, you have happened upon A Pedestrian's Guide to the Economy. You'll find hours of reading pleasure contained within this site, with more entertainment value per calorie than most office memos. A Pedestrian's Guide to the Economy, however, is more than a recreational web site. As a handy reference source, it provides answers to many of the most asked, a few of the least asked, and some of the never asked questions about the economy.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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BOP
Balance of Payments
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