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AD-AS MODEL: 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 AS-AD model, 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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PRODUCER PRICE INDEX An index of the prices domestic producers receive from selling their output. THE Producer Price Index (PPI) is actually one of several producer price indexes compiled and published monthly by the Bureau of Labor Statistics (BLS). Others track prices for different industries and goods. This is also one of several noted price indexes used to track economic activity. Others include the Consumer Price Index (CPI) and the GDP price deflator.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a bookshelf that will fit in your closet or a birthday greeting card for your grandfather. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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NBER
National Bureau of Economic Research
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