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UNCERTAINTY: The possibility that any number of things could happen in the future. In other words, the future is not known. This should be compared with risk, which is assigning probabilities to alternative possibilities.
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PRICE STABILITY The condition in which the average price level in the economy changes very slowly, if at all. This is a key part of the macroeconomic goal of stability. Price stability is commonly indicated by the inflation rate, calculated as percentage change in either the Consumer Price Index (CPI) or the GDP price deflator. Price stability is generally achieved by the ABSENCE of large or rapid increases or decreases in the price level.
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BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for jovial bank tellers. Your Complete Scope
This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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NIFO Next In First Out
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