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ENDOGENOUS VARIABLE: A variable that is identified within the workings of the model. Also termed a dependent variable, an endogenous variable is in essence the "output" of the model. It should be compared with an exogenous variable this is the "input" of the model.
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LONG-RUN AGGREGATE MARKET A macroeconomic model relating the price level and real production under the assumption that ALL prices are flexible. This is one of two aggregate market submodels used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The other is the short-run aggregate market. The long-run aggregate market isolates the interaction between aggregate demand and long-run aggregate supply. The key assumption of this model is that ALL prices, especially resource prices, are flexible. The primary result of this model is that the economy achieves long-run equilibrium at full-employment real production.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for pencil sharpeners with an attitude.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"I learned about the strength you can get from a close family life. I learned to keep going, even in bad times. I learned not to despair, even when my world was falling apart. I learned that there are no free lunches. And I learned the value of hard work. " -- Lee Iacocca
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NNP
Net National Product
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