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INFLATION PREMIUM: The difference between the nominal interest rate and the real interest rate. The role of the inflation premium is, quite simply, to adjust the interest rate for inflation. The nominal interest rate (the one on the loan contract) includes a real interest rate needed by the lender and a surcharge equal to the expected inflation rate used to maintain the purchasing power of the future payments. This expected inflation rate is the inflation premium.
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SHORT-RUN AGGREGATE SUPPLY AND MARKET SUPPLY The short-run aggregate supply curve, or SRAS curve, has similarities to, but differences from, the standard market supply curve. Both are positively sloped. Both relate price and quantity. However, the market supply curve is positively sloped due to the law of diminishing marginal returns and the short-run aggregate supply curve is positively-sloped due to inflexible prices, the pool of natural unemployment, and imbalances in real resource prices.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at an auction wanting to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for cardboard boxes.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Stand up to your obstacles and do something about them. You will find that they haven't half the strength you think they have." -- Norman Vincent Peale
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JEMS
Journal of Economics and Management Strategy
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