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EQUILIBRIUM, AGGREGATE MARKET: The state of the aggregate market in which real aggregate expenditures are equal to real production, which means that the price level, aggregate expenditures, and/or real production do not change. In other words, the opposing forces of aggregate demand (the buyers) and aggregate supply (the sellers) are in balance.
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ASSUMPTION An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at an auction looking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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RATS
Regression Analysis of Time Series (software)
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