aggregate supply and aggregate demand.

This is the book value.

We're going to think about aggregate demand and aggregate, I'll rewrite the word, aggregate supply.

Remember, there's a difference between book value and market value.

The book is of great value.

This book has a certain value.

Right here we're talking in microeconomic terms, but then if we think about aggregate supply and demand, so this is aggregate, so this is, let me write aggregate, aggregate right over here, this is price, this is real GDP, this is our aggregate demand, aggregate, aggregate demand.

Whenever you hear things like book value, and I've done a couple of videos on book value versus market value, but the book value is essentially what you have on your accounting books.

The aggregate numbers are overwhelming.

This is the aggregate demand.

The value of this book has been halved.

This is the book value for a share.

So let's actually recalculate our new book value.

And book equity per share, or the book value per share of 6.00.

So, 'aggregate', what happens in aggregate to an economy, from the millions of individual actors.

Actually, we're going to start with aggregate demand and then start talking about aggregate supply.

So we lost 1 billion of our book value.

What is the new book value of the shares?

The aggregate numbers are absolutely overwhelming

So aggregate capacity will go on.

This book is of great value to students of science.

So this is 3.02 per share book value per share.

Because the book value of its equity is 5 million.

So let's see, the book value per share is what?

About each attribute and then aggregate those.

And then our short run aggregate supply might look something like this, aggregate supply in the short run.

So when you look online at the way people aggregate, they don't aggregate around age, gender and income.

So I'm willing to pay a premium to their book value.

Because we know that the book value per share is 5.

Aggregate economy. We now have millions of actors.

But there wasn't actual aggregate savings going on.

So here you would have more aggregate buyers.

That's the situation where the market price is above the book value.

And that tells you that the book value per share is 4.

So the book value of the new shares is 20 per share.

In our case, the book value of the equity was 5 million.

But in this case our market cap is below our book value.

And now notice something here, the book value of this residential mortgage backed security, at least what this bank management says the book value is, is 4 billion.

Social choice functions are ones that aggregate people's preferences.

Let's say that the market value we talked before that the book value per share of this company is 5.

Equity is what's left over. So let's say this is all book value.

So that's why the book value of the equity is now 2 billion.

In this case, the company's trading at a discount to its book value.

It's going to be the book value, 2 billion, divided by 500 million.

So that would have increased the aggregate demand for housing.