|
|
AGGREGATE MARKET EQUILIBRIUM: The state of equilibrium that exists in the aggregate market when real aggregate expenditures are equal to real production with no imbalances to induce changes in the price level or real production. In other words, the opposing forces of aggregate demand (the buyers) and aggregate supply (the sellers) exactly offset each other. The four macroeconomic sector (household, business, government, and foreign) buyers purchase all of the real production that they seek at the existing price level and business-sector producers sell all of the real production that they have at the existing price level. The aggregate market equilibrium actually comes in two forms: (1) long-run equilibrium, in which all three aggregated markets (product, financial, and resource) are in equilibrium and (2) short-run equilibrium, in which the product and financial markets are in equilibrium, but the resource markets are not.
Visit the GLOSS*arama
|
|
|
|
|
BARTER A method of trading goods, commodities, or services, directly for one another without the use of money. Barter was the first type of market exchanged undertaken by human civilization as people advanced beyond self sufficiency in the satisfaction of their wants and needs. Modern economies still use a modest amount of barter to allocate resources. The key to a barter exchange is a double coincidence of wants, in which each side of the exchange wants what the other side has and has want the other side wants. A barter exchange tends to be less efficient that exchanges involving money.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
|
|
|
"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
|
|
X-M
Net Exports
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
