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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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KEYNESIAN EQUILIBRIUM The state of macroeconomic equilibrium identified by the Keynesian model when the opposing forces of aggregate expenditures equal aggregate production achieve a balance with no inherent tendency for change. Once achieved, a Keynesian equilibrium persists unless or until it is disrupted by an outside force, especially changes in autonomous expenditures.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Leadership is based on inspiration, not domination; on cooperation, not intimidation. " -- William A. Ward
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JPUBE
Journal of Public Economics
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