|
|
LABOR MARKET: A market that exchanges the services of labor resources. For the macroeconomy, this is a critical aspect of the aggregate resource markets, especially the short-run condition of rigid prices. Labor market wages tend to be rigid in short run. Such wage rigidity, was well as other short run problems, prevent labor markets from achieve equilibrium. The result is either unemployment or overemployment, both of which prevent long-run equilibrium in the aggregate market.
Visit the GLOSS*arama
|
|
|
|
|
ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
Complete Entry | Visit the WEB*pedia |
|
|
WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for the last item on a shelf.
Your Complete Scope
This isn't me! What am I?
|
|
|
Al Capone's business card said he was a used furniture dealer.
|
|
|
"I can't change the direction of the wind, but I can adjust my sails to always reach my destination." -- Jimmy Dean
|
|
G10
Group of Ten
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
