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ORIGIN: In a graph, this is point of intersection between the X and Y axes. This intersection point is at the zero values for both axes. This double-zero is the "starting point" for plotting points in the coordinate space established by the two axes.
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SHORT-RUN AGGREGATE MARKET A macroeconomic model relating the price level and real production under the assumption that SOME prices are inflexible, especially resource prices. 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 long-run aggregate market. The short-run aggregate market isolates the interaction between aggregate demand and short-run aggregate supply. The key assumption of this model is that SOME prices, especially resource prices, are inflexible. The primary result of this model is that the economy can achieve short-run equilibrium at real production that is either greater than or less than full-employment.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Don't waste your effort on a thing that results in a petty triumph unless you are satisfied with a life of petty issues. " -- John D. Rockefeller, industrialist
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GLS
Generalized Least Squares
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