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RESOURCE QUALITY, AGGREGATE SUPPLY DETERMINANT: One of three categories of aggregate supply determinants assumed constant when the short-run or long-run aggregate supply curves are constructed, and which shifts both aggregate supply curves when it changes. An increase in a resource quality causes an increase (rightward shift) of both aggregate supply curves. A decrease in a resource quality causes a decrease (leftward shift) of both aggregate supply curves. The other two categories of aggregate supply determinants are resource quantity and resource price. Specific determinants falling into this general category include education and technology. Anything affecting the quality of labor, capital, land, and entrepreneurship is also included.
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IMPLICIT LOGROLLING The trading of votes to ensure a favorable outcome for two or more separate decisions undertaken by combined both decisions into a single vote. Commonly practiced in legislative bodies, implicit logrolling occurs when two separate programs or policies are combined into a single package, which is then subject to a single vote. The contrast is with explicit logrolling in which each of two voters agree to cast separate votes for two separate programs. Whether implicit or explicit, logrolling is generally used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for high interest rates.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. " -- Mark Twain, writer
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AACT
American Assocation of Commodity Traders
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