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BANKRUPTCY: A legal declaration that the liabilities of a proprietor (individual), partnership, or corporation are greater than assets. In other words, a consumer or business that is unable to pay the bills can go to court and be formally declared bankrupt. The impetus for entering a court can come voluntarily from the deadbeat who has acquired more liabilities than assets, or involuntarily from the creditors who have been unable to collect from the deadbeat.
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AGGREGATE MARKET SHOCKS Disruptions of the equilibrium in the aggregate market (or AS-AD model) caused by shifts of the aggregate demand, short-run aggregate supply, or long-run aggregate supply curves. Shocks of the aggregate market are associated with, and thus used to analyze, assorted macroeconomic phenomena such as business cycles, unemployment, inflation, stabilization policies, and economic growth. The specific analysis of aggregate market shocks identifies changes in the price level (GDP price deflator) and real production (real GDP). Changes in the price level and real production have direct implications for the unemployment rate, the inflation rate, national income, and a host of other macroeconomic measures.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store wanting to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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ICCH
International Commodities Clearing House
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