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CAPITAL DEPRECIATION: The wearing out, breaking down, or technological obsolescence of physical capital that results from use in the production of goods and services. To paraphrase an old saying, "You can't make a car without breaking a few socket wrenches." In other words, when capital is used over and over again to produce goods and services, it wears down from such use.
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AGGREGATE SUPPLY SHIFTS Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for defective microphones.
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The average bank teller loses about $250 every year.
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"After climbing a great hill, one finds many more hills to climb. " -- Nelson Mandela, president of South Africa
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