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INELASTIC DEMAND: Relatively large changes in demand price cause relatively smaller changes in quantity demanded. Inelastic demand means that changes in the quantity demanded are not very responsive to changes in the demand price. An inelastic demand has a coefficient of elasticity less than one (the negative value is ignored). You might want to compare inelastic demand to elastic demand, inelastic supply, and elastic supply.
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PRODUCER PRICE INDEX An index of the prices domestic producers receive from selling their output. THE Producer Price Index (PPI) is actually one of several producer price indexes compiled and published monthly by the Bureau of Labor Statistics (BLS). Others track prices for different industries and goods. This is also one of several noted price indexes used to track economic activity. Others include the Consumer Price Index (CPI) and the GDP price deflator.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either several magazines on time travel or 500 feet of telephone cable. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Whenever an individual or a business decides that success has been attained, progress stops. " -- Thomas Watson Jr., IBM executive
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LRAS
Long Run Aggregate Supply
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