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Y-AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the "vertical axis" that runs up and down.
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AGGREGATE MARKET An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for deranged pelicans.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"There are no shortcuts to any place worth going. " -- Beverly Sills, Opera singer
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APC
Average Propensity to Consume
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