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CLASSICAL AGGREGATE SUPPLY CURVE: A graphical representation of the classical economic view of the relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The classical aggregate supply curve is a vertical line that reflects the classical view that the macroeconomy has flexible prices and maintains full employment. This aggregate supply is essentially the long-run aggregate supply curve used in modern aggregate market analysis. It should be compared with the Keynesian aggregate supply curve.
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ENERGY PRICES, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and that shifts the aggregate supply curve when it changes. An increase in the energy prices causes a decrease (leftward shift) of the aggregate supply curve. A decrease in the energy prices causes an increase (rightward shift) of the aggregate supply curve. Other notable aggregate supply determinants include technology, wages, and the capital stock. Energy prices fall under the resource price aggregate supply determinant.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either several magazines on home repairs or a remote controlled sports car with an air spoiler. Be on the lookout for infected paper cuts.
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The average length of a "business lunch" is about 36 minutes.
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"How wonderful it is that nobody need wait a single moment before starting to improve the world. " -- Anne Frank, diarist
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ATM
Automated Teller Machine
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