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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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AGGREGATE DEMAND DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate demand resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Never let the fear of striking out get in your way. " -- Babe Ruth, baseball player
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IS-LM
Investment/Saving-Liquidity/Money
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