|
|
KEYNESIAN AGGREGATE SUPPLY CURVE: A modification of the standard aggregate supply curve used in the aggregate market (or AD-AD) analysis to reflect the basic assumptions of Keynesian economics. The Keynesian aggregate supply curve contains either two or three segments. The strict Keynesian aggregate supply curve contains two segments, a vertical classical range and a horizontal Keynesian range, meeting a right angle and forming a reverse L-shape. An alternative version replaces the right angle intersection with a gradual transition between the two segments that is positively sloped and termed the intermediate range. The modern aggregate supply curve is largely based on this intermediate range.
Visit the GLOSS*arama
|
|
|
|
|
PRODUCTION POSSIBILITIES CURVE A curve that illustrates the production possibilities of an economy--the alternative combinations of two goods that an economy can produce with given resources and technology. A production possibilities curve (PPC) represents the boundary or frontier of the economy's production capabilities, hence it is also frequently termed a production possibilities frontier (PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
Complete Entry | Visit the WEB*pedia |
|
|
PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for gnomes hiding in cypress trees.
Your Complete Scope
This isn't me! What am I?
|
|
|
A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
|
|
|
"There is no point at which you can say, „Well, I'm successful now. I might as well take a nap.¾" -- Carrie Fisher, actress, writer
|
|
AVT
Ad Valorem Taxes
|
|
|
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
|
|
