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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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SELF CORRECTION, AGGREGATE MARKET The automatic process in which the aggregate market adjusts from short-run equilibrium to long-run equilibrium. Self-correction results through shifts of the short-run aggregate supply curve caused by changes in wages (and other resource prices). The self-correction mechanism acts to close both recessionary gaps and inflationary gaps. The short-run aggregate supply curve increases (shifts rightward) due to lower wages to close a recessionary gap and decreases (shifts leftward) due to higher wages to close an inflationary gap.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for telephone calls from former employers.
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The average bank teller loses about $250 every year.
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"There's only one way to succeed in anything, and that is to give everything. " -- Vince Lombardi
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AS
Aggregate Supply
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