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CLOSED ECONOMY: An economy with little or no foreign trade. A country with a closed economy can usually tend to it's problems without worrying about other countries. During the 1950s and 1960s, the good old U. S. of A. had relatively little foreign trade, and was very nearly a closed economy. But that was a unique period in the United States unmatched before or since. In fact, it's very difficult to find a real-life closed economy anywhere in the world today. Because of this, you should take a close look at the entry open economy.
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AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase 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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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for slightly overweight pizza delivery guys.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Trust yourself. You know more than you think you do. " -- Benjamin Spock, doctor
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ATM
Automated Teller Machine
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