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PEAK: The transition of a business cycle from an expansion and a contraction. The end of an expansions carries the descriptive term peak. At the peak, the economy has reached the highest level of production in recent times. The bad thing about a peak, however, is that it is a turning point, a turning point to a contraction. So even though a peak is the "highest" is not necessarily something we want. We would prefer never to reach the peak.
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AGGREGATE DEMAND DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate demand resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for celebrities who speak directly to you through your television.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Consult not your fears, but your hopes and your dreams. Think not about your frustrations, but about your unfulfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do. " -- Pope John XXIII
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LTT
Long-Term Trend
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