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BLS: The abbreviation for the Bureau of Labor Statistics, an agency of the U.S. Federal government, specifically a branch of the U.S. Department of Labor, that compiles and reports a wide range of economic data and measurements. At the top of their list of important economic numbers maintained by the BLS are the unemployment rate (and related measures) and the Consumer Price Index (and related measures). Economists rely heavily on the BLS to provide data needed to evaluate and analyze the macroeconomy.
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AGGREGATE SUPPLY DECREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by a decrease in aggregate supply, resulting in and illustrated by a leftward shift of the short-run aggregate supply curve. A decrease in aggregate supply in the short-run aggregate market results in an increase in the price level and a decrease in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at an auction seeking to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for malfunctioning pocket calculators.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"The truth of the matter is that you always know the right thing to do. The hard part is doing it." -- Norman Schwarzkopf, US Army general
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NSF
National Science Foundation
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