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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.
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AGGREGATE MARKET SHOCKS: Disruptions of the equilibrium in the aggregate market (or AS-AD model) caused by shifts of the aggregate demand, short-run aggregate supply, or long-run aggregate supply curves. Shocks of the aggregate market are associated with, and thus used to analyze, assorted macroeconomic phenomena such as business cycles, unemployment, inflation, stabilization policies, and economic growth. The specific analysis of aggregate market shocks identifies changes in the price level (GDP price deflator) and real production (real GDP). However, changes in the price level and real production have direct implications for the unemployment rate, the inflation rate, national income, and a host of other macroeconomic measures. See also | equilibrium | aggregate market | aggregate demand | short-run aggregate supply | long-run aggregate supply | macroeconomics | phenomenon | business cycles | unemployment | inflation | stabilization policies | economic growth | price level | real production | unemployment rate | inflation rate | national income |
Recommended Citation:AGGREGATE MARKET SHOCKS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 17, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: aggregate market shocks
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UTILITARIANISM A philosophical view that the value or worth of an action depends on the amount of pleasure it generates or the amount of pain it prevents, or in economic terms, the amount of utility generated. Utilitarianism, although dating back to the early Greek philosophers, is largely attributable to the work of Jeremy Bentham and John Stuart Mill. This philosophy played a major role in the development of modern consumer demand theory and utility analysis.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for neighborhood pets, especially belligerent parrots.
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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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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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EBC
Electronic Business Communications
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