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EQUILIBRIUM, SHORT-RUN AGGREGATE MARKET: The state of equilibrium that exists in the short-run aggregate market when real aggregate expenditures are equal to full employment real production with no imbalances to induce changes in the price level or real production. In other words, the opposing forces of aggregate demand (the buyers) and short-run aggregate supply (the sellers) exactly offset each other. Equilibrium in the short-run aggregate market achieves balance in the product markets and financial markets, but not in the resource markets. It also involves simultaneous equilibrium in the aggregated financial and resource markets.
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GREEN LOGIGUIN
Your compete MICRO*scope for today
You are the type of person who is logical and rational, reasonable and analytical, judicious and sensible, even to the point of aggravation. Family and friends let you do the driving on vacations or trips to the mall because you don't drive too fast, you don't drive too slow, and you usually obey the traffic laws. Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for the happiest person in the room. You should consider shopping at stores or businesses beginning with the letter Z, but do not buy any products with a serial number or product code containing the number 003160. Your preferred shopping venue is strip malls. Your special symbol is the equal sign (=).
Is this You?
As a Green Logiguin, you seek a balance in life and your market activities. You are logical and reasonable, always seeking to weigh costs and benefits, pros and cons, ups and downs, ins and outs, goods and bads. You are the embodiment of yin and yang. You know that there are two sides to every story and every market exchange. Sometimes you buy. Sometimes you sell. You search out the best deals, with the highest quality and lowest price.
This isn't me! What am I?
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INFLATION A persistent increase in the average price level in the economy. It is measured by the inflation rate, the annual percentage change in a price index such as the Consumer Price Index (CPI) or GDP price deflator. Inflation is the most common phenomenon associated with the price level. Two related phenomena are deflation, a decrease in the price level, and disinflation, a decrease in the inflation rate. Inflation is one of two key macroeconomic problems. The other is unemployment.
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Pumping Up The ECONOMIC GROWTHWe need to pay another visit to Scarcity Stan's Ye Olde Bakery Shoppe and Confectionery Palace. But this is not a social visit, nor is intended for some delectable pastries that will add a few extra pounds to our waistlines. We're here on official economic business. Stan's at wits end. He doesn't know what to do. There's been so much demand for his economic pie, what with society's unlimited wants and needs, that he needs to make it bigger. Our job is to figure out how. While we're doing that, we'll also see how to put our economy on the path to economic growth.
Tell me more...
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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FIPS
Federal Information Processing Standards
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