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SIGNALLING: The use of low-cost, easy to obtain information about a product or commodity to indicate the quality of a product. Signalling occurs when buyers use features of a commodity or actions by the seller to indicate overall product quality. These signals can be either intended or unintended.
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SLOPE, LONG-RUN AGGREGATE SUPPLY CURVE The long-run aggregate supply (LRAS) curve is a vertical line with an infinite slope, reflecting the independent relation between the price level and aggregate real production. A higher price level is associated with the same real production as a lower price level. This is the real production generated when resources are fully employed, that is, full-employment production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Try not to become a man of success but rather to become a man of value. " -- Albert Einstein
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ICTB
International Customs Tariffs Bureau
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