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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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QUANTITY DEMANDED The specific quantity of a good that buyers are willing and able to buy at a specific demand price. The key word is "specific." Quantity demanded and demand price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes demand. The demand curve is a plot of the quantity demanded at each demand price.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a birthday gift for your mother or a weathervane with a horse on top. 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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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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LIML
Limited Information Maximum Likelihood
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