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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.

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RECESSIONARY GAP

The difference between the equilibrium real production achieved in the short-run aggregate market and full-employment real production that occurs when short-run equilibrium real production is less than full-employment real production. A recessionary gap, also termed a contractionary gap, is associated with a business-cycle contraction. This is one of two alternative output gaps that can occur when short-run equilibrium generates production that differs from full employment. The other is an inflationary gap.

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APLS

BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for small children selling products door-to-door.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
"The purpose of learning is growth, and our minds, unlike our bodies, can continue growing as long as we live."

-- Mortimer Adler

JHR
Journal of Human Resources
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