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ECONOMIC 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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FULL EMPLOYMENT, LONG-RUN AGGREGATE SUPPLY The condition that exists when all resources are engaged in production. In practice, however, this condition is virtually impossible to achieve. An economy ALWAYS has some unemployed resources, particularly frictional and structural unemployment. The key characteristic of long-run aggregate supply is that full-employment production is maintained at ALL price levels. In the long run, when all prices and wages are flexible, all markets (financial, product, and especially resource) are in equilibrium, and the level of real production fully employs all available resources.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a going out of business sale trying to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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ICSID
International Center for the Settlement of Investment Disputes
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