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OPTION: A contract that gives the buyer an "option" to complete a transaction within a given time period. Options are used frequently in financial markets.

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MACROECONOMIC MARKETS

Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.

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APLS

ORANGE REBELOON
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Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a revolving spice rack or a how-to book on home repairs. Be on the lookout for crowded shopping malls.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
"We should never allow ourselves to be bullied by an either-or. There is often the possibility of something better than either of those two alternatives. "

-- Mary Parker Follett, management coach

BPEA
Brookings Papers on Economic Activity
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