|
|
OPEC: The common abbreviation for the Organization of Petroleum Exporting Countries, which is an international organization of more than a dozen nations located primarily in the Middle East, Africa, and Central America that controls a sizeable portion of the world's petroleum reserves. This control over oil reserves gives OPEC significant market control, which it has been inclined to exert from time to time. The most noted time was the 1970s. OPEC raised oil prices from a scant $2 to $3 a barrel in the early 1970s to over $30 a barrel by the end of the decade. As an group of independent oil-producing nations seeking to monopolize the market, OPEC represents a textbook example of an cartel.
Visit the GLOSS*arama
|
|
|
|
|
KEYNESIAN DISEQUILIBRIUM The state of the Keynesian model in which aggregate expenditures are not equal to aggregate production, which results in an imbalance that induces a change in aggregate production. In other words, the opposing forces of aggregate expenditures (the buyers) and aggregate production (the sellers) are out of balance. At the existing level of aggregate production, either the four macroeconomic sectors (household, business, government, and foreign) are unable to purchase all of the production that they seek or producers are unable to sell all of the production that they have.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope
This isn't me! What am I?
|
|
|
The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
|
|
|
"There are only two ways to live your life. One is as though nothing is a miracle. The other is as though everything is a miracle." -- Albert Einstein
|
|
FIFO
First In First Out
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
