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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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RESOURCE QUANTITY, AGGREGATE SUPPLY DETERMINANT One of three categories of aggregate supply determinants assumed constant when the short-run and long-run aggregate supply curves are constructed, and which shifts both aggregate supply curves when it changes. An increase in a resource quantity causes an increase (rightward shift) of both aggregate supply curves. A decrease in a resource quantity causes a decrease (leftward shift) of both aggregate supply curves. The other two categories of aggregate supply determinants are resource quality and resource price. Specific determinants falling into this general category include population, labor force participation, capital stock, and exploration. Anything affecting the quantity of labor, capital, land, and entrepreneurship is also included.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"Kites rise highest against the wind, not with it. " -- Winston Churchill, British prime minister
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