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NOMINAL: The actual dollar price of stuff when it's bought or sold. The contrast is with the term real, which is actual value adjusted for price changes or inflation.

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RESOURCE QUALITY, AGGREGATE SUPPLY DETERMINANT

One of three categories of aggregate supply determinants assumed constant when the short-run or long-run aggregate supply curves are constructed, and which shifts both aggregate supply curves when it changes. An increase in a resource quality causes an increase (rightward shift) of both aggregate supply curves. A decrease in a resource quality causes a decrease (leftward shift) of both aggregate supply curves. The other two categories of aggregate supply determinants are resource quantity and resource price. Specific determinants falling into this general category include education and technology. Anything affecting the quality of labor, capital, land, and entrepreneurship is also included.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a green fountain pen or a handcrafted bird house. Be on the lookout for high interest rates.
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The average bank teller loses about $250 every year.
"He who hesitates is poor. "

-- Mel Brooks, writer, director, comedian

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