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KEYNESIAN: Relating to the macroeconomic theory developed by John Maynard Keynes to address the problem of the persistently high unemployment occurring during the Great Depression. This word is commonly used as a modifier for other terms, such as Keynesian economics, Keynesian policy, or Keynesian equilibrium. Beyond the theory itself, the term Keynesian has come to reflect a particular philosophy toward government and the economy that a market-based economy is unlikely to achieve the macroeconomic goals of full employment, growth, and stability without the active use of government policies.
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IMPLEMENTATION LAG The time lag that occurs after a government policy designed to correct an economic problem has been selected and the actual execution of the policy. The implementation lag is based the time it takes for government agencies, which can be slow and methodical, to carry out the designated policy. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and decision lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for a thesaurus filled with typos.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"The shifts of fortune test the reliability of friends. " -- Marcus Tullius Cicero, Roman statesman
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AMEX
American Stock Exchange
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