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ZERO SLOPE: A horizontal line in which the numerical value of the slope, calculated as the change in the variable on the vertical axis divided by a change in the variable on the horizontal axis, is zero. In other words, the Y-axis variable is fixed, or constant, for any and all values of the X-axis variable.
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UTIL A hypothetical unit of measurement of utility that is commonly used by economists to present hypothetical information about utility and consumer demand theory. The util measurement unit was developed as a convenient way to illustrate and discuss concepts such as total utility, marginal utility, and the law of diminishing marginal utility. However, because utility is not a measurable characteristic, the util does represent an actual unit of measurement, such as inches or pounds.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads seeking to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Confidence . . . thrives on honesty, on honor, on the sacredness of obligations, on faithful protection and on unselfish performance. Without them it cannot live." -- President Franklin Delano Roosevelt
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LRAS
Long Run Aggregate Supply
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