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GOVERNMENT POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called economic policies. The four common types of government policies are: fiscal, monetary, regulatory, and judicial.

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SELF CORRECTION, RECESSIONARY GAP

The automatic process in which the aggregate market eliminates a recessionary gap created by a short-run equilibrium that is less than full employment through decreases in wages (and other resource prices). The self-correction mechanism is triggered by short-run resource market imbalances that are closed by long-run price flexibility. The self-correction process of the aggregate market also acts to close an inflationary gap with higher wages (and other resource prices).

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APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either clothing for your pet iguana or a set of hubcaps. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?

The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

IBRD
International Bank for Reconstruction and Development
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