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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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NORMATIVE ECONOMICS The branch of economics that seeks to recommend the way the economy should operate. It is the policy side of economics that is based on individual preferences and cannot be proven either right or wrong. A normative economic statement cannot be refuted by looking at the real world--that is, by testing hypotheses.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"Our vision controls the way we think and, therefore, the way we act . . . The vision we have of our jobs determines what we do and the opportunities we see or don't see. " -- Charles Koch, executive
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ADV FRT
Advance Freight
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