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EXCESS SUPPLY: A disequilibrium condition in a competitive market in which the quantity supplied is greater than the quantity demanded, hence there's "extra" supply. Pointy-headed economists generally use the more technical term surplus rather than excess supply. The reason, of course, is that surplus has two syllables and excess supply has four. The time saved in pronouncing two syllables rather than four is a definite efficiency plus for the entire economy.
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NET EXPORTS LINE A graphical depiction of the relation between net exports attributed to the foreign sector and the economy's aggregate level of income or production. This relation plays a minor, but growing role in the study of Keynesian economics. A net exports line is characterized by vertical intercept, which indicates autonomous net exports, and slope, which is the negative of the marginal propensity to import and indicates induced net exports. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the net exports line onto the consumption line, after adding investment expenditures and government purchases.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for infected paper cuts.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Seek always to do some good, somewhere. Every man has to seek in his own way to realize his true worth. You must give some time to your fellow man. For remember, you donžt live in a world all your own. Your brothers are here too. " -- Albert Schweitzer, humanitarian
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ATM
Automated Teller Machine
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