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AGGREGATE SUPPLY CURVE: A graphical representation of the relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. There are actually two separate aggregate supply curves, one for the long run and one for the short run. These aggregate supply curves are one side of the graphical presentation of the aggregate market. The other side is occupied by the aggregate demand curve.
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MARGINAL UTILITY-PRICE RATIO The ratio of the marginal utility obtained from consuming a good to the price of the good. This ratio is particularly important in determining consumer equilibrium, which is reached when the marginal utility-price ratios are the same for all goods. Equality between all marginal utility-price ratios is the rule of consumer equilibrium which is satisfied with utility maximization.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for door-to-door salesmen.
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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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"The man who can drive himself further once the effort gets painful is the man who will win. " -- Roger Bannister, runner
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TSP
Time Series Econometrics (software)
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