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ECLA: The Economic Commission for Latin America (ECLA) -the Spanish acronym is CEPAL- was established in 1948. ECLAC, which is headquartered in Santiago, Chile, is one of the five regional commissions of the United Nations. It was founded for the purposes of contributing to the economic development of Latin America, coordinating actions directed towards this end, and reinforcing economic relationships among the countries and with the other nations of the world. The promotion of the region's social development was later included among its primary objectives. The 33 countries of Latin America and the Caribbean are member States of ECLAC, together with several North American and European nations that have historical, economic and cultural ties with the region.
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INFLATION CAUSES Inflation, the persistent increase in the average price level, can be caused by an increase in aggregate demand or a decrease in aggregate supply. This suggests two basics sources, causes, or types of inflation--demand-pull inflation and cost-push inflation. While short-term bouts of inflation (up to several months) can result from anything (determinant) that might cause either increases in aggregate demand or decreases in aggregate supply, long-term inflation (a year or more) is possible ONLY through persistent increases in the money supply. As such, while demand-pull inflation and cost-push inflation are convenient ways to catalog the transmission mechanisms of inflation, the ultimate CAUSE of inflation is money.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for attractive cable television service repair people.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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CES
Constant Elasticity of Substitution
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