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Y-AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the "vertical axis" that runs up and down.

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AGGREGATE SUPPLY SHIFTS

Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for deranged pelicans.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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-- Beverly Sills, Opera singer

AIC
Akaike's Information Criterion
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