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HOARDING: The act of accumulating assets, especially goods or money, over and above that needed for immediate use based on the fear or expectation of future shortages and higher prices. For example, concerns about a worldwide shortage of sugar and chocolate might prompt a consumer to purchase several hundred boxes of candy, which are stored in a wine cellar. Alternatively, someone fearing a global collapse of the financial system might be inclined to pack pillow cases with bundles of cash or stockpile gold bullion in the closet. Such hoarding, if widely practiced, can actually contribute to the anticipated shortage and higher prices.
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AGGREGATE DEMAND DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate demand resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for celebrities who speak directly to you through your television.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"I can't change the direction of the wind, but I can adjust my sails to always reach my destination." -- Jimmy Dean
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NLS
National Longitudinal Survey
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