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CLASSICAL RANGE: The vertical segment of the Keynesian aggregate supply curve that reflects the independence of full-employment aggregate output (or gross domestic product) to the price level. Shifts of the aggregate demand curve in this range lead to changes in the price level, but not changes in aggregate output. Such results are consistent with classical economics, which is why this is termed the "classical" range. The other ranges of the Keynesian aggregate supply curve are the Keynesian range and the intermediate range.
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ASSUMPTIONS, PRODUCTION POSSIBILITIES The four key assumptions underlying production possibilities analysis are: (1) resources are used to produce one or both of only two goods, (2) the quantities of the resources do not change, (3) technology and production techniques do not change, and (4) resources are used in a technically efficient way.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for pencil sharpeners with an attitude.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"I think luck is the sense to recognize an opportunity and the ability to take advantage of it . The man who can smile at his breaks and grabs his chance gets on." -- Samuel Goldwyn, Film executive
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APR
Annual Percentage Rate
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