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MACROECONOMIC POLICY: Government policy aimed at the aggregate economy, usually to promote the macro goals of full employment, stability, and growth. Common macroeconomic policies are fiscal and monetary.
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DEMAND SHOCK A disruption of market equilibrium caused by a change in a demand determinant and a shift of the demand curve. A demand shock can take one of two forms--a demand increase or a demand decrease. This is one of two disruptions of the market. The other is a supply shock.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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LRAC
Long Run Average Cost
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