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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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COMPLEMENT GOOD In general, one of two (or more) goods that are related in a joint manner. In terms of demand, complement goods are those that provide satisfaction of a want or need when consumed together. In terms of supply, complement goods are those that are simultaneously produced using a given resource. A complement good is one of two ways that goods are related. The other is a substitute good.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction seeking to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for pencil sharpeners with an attitude.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Everyone's got it in him, if he'll only make up his mind and stick at it. None of us is born with a stop-valve on his powers or with a set limit to his capacities. There's no limit possible to the expansion of each one of us." -- Charles M. Schwab
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ISDA
International Swaps and Derivatives Association
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