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REAL PURCHASING POWER: The ability to acquire wants-and-needs satisfying goods and services with income or money. The real purchasing power of income or money depends on the prices of the goods and services. If the price level, for example, doubles, then a given amount of money can purchase half as many goods and services.
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BANK PANIC An economy-wide problem in the financial sector and the banking industry that triggers an economy-wide business-cycle contraction or even depression. Bank panics were common throughout the 1800s and early 1900s, during which time they where the primary cause of business-cycle downturns. Bank panics usually involved bank runs that spread from bank to bank throughout the economy.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for the last item on a shelf.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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Income, Nominal Gross National Product
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