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UNEMPLOYMENT: The general condition in which resources are willing and able to produce goods and services but are not engaged in productive activities. While unemployment is most commonly thought of in terms of labor, any of the other factors of production (capital, land, and entrepreneurship) can be unemployed as well. The analysis of unemployment, especially labor unemployment, goes hand-in-hand with the study of macroeconomics that emerged from the Great Depression of the 1930s.
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RECOGNITION LAG The time lag that it takes to identify and document the existence of an economic problem that might require government action. The recognition lag arises because it takes time to collect and analyze economic data; to verify that an actual problem exists. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are decision lag and implementation lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Defeat is simply a signal to press onward." -- Helen Keller, lecturer, author
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AR
Average Revenue, Autoregressive
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