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REAL PRODUCTION: The market value of all production measured in constant prices, after adjusting for inflation. Real production is typically measured with real GDP.

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AGGREGATE SUPPLY INCREASE, SHORT-RUN AGGREGATE MARKET

A shock to the short-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the short-run aggregate supply curve. An increase in aggregate supply in the short-run aggregate market results in a decrease 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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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites trying to buy either a T-shirt commemorating the 2000 Presidential election or a really, really exciting, action-filled video game. Be on the lookout for infected paper cuts.
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This isn't me! What am I?

Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
"Success is the ability to go from one failure to another with no loss of enthusiasm."

-- Sir Winston Churchill

PDV
Present Discounted Value
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