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SLOPE, AGGREGATE DEMAND CURVE: The aggregate demand curve has a negative slope, reflecting the inverse relation between the price level and aggregate expenditures on real production. A higher price level is related to fewer aggregate expenditures and a lower price level is related to greater aggregate expenditures. The three reasons underlying the negative slope of the AD curve and the inverse relation between the price level and aggregate expenditures on real production are: real-balance effect; interest-rate effect; and net-export effect.
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WHOLESALE PRICE INDEX An index of the prices paid by retail stores for the products they ultimately resell to consumers. The Wholesale Price Index (WPI) was the forerunner of the modern Producer Price Index (PPI) and was discontinued in 1978. Other noted price indexes used to track economic activity are the Consumer Price Index (CPI) and the GDP price deflator.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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DCE
Domestic Credit Expansion
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