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AGGREGATE OUTPUT: The macroeconomy's total production of final goods and services. You might recognized it by it's official term gross domestic product. Another related term is aggregate supply. This is the total production in the economy that is purchased by the four basic economic sectors -- household, business, government, and foreign. See also aggregate market, aggregate demand, aggregate expenditures.
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POSITIVE ECONOMICS The branch of economics that seeks to explain the way the economy actually operates. It is the application of the scientific method and the process of testing hypothesis to economic phenomena. A positive economic statement is one that can be refuted by looking at the real world--that is, by testing a hypothesis.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"No amount of business school training or work experience can teach what is ultimately a matter of personal character. " -- Truett Cathy, Chick-fil-A Inc. founder
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TIBOR
Tokyo Interbank Offered Rate (Japan)
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