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RATIONING: The distribution or allocation of a limited commodity, usually accomplished based on a standard or criterion. The two primary methods of rationing are markets and governments. Rationing is needed due to the scarcity problem. Because wants and needs are unlimited, but resources are limited, available commodities must be rationed out to competing uses.
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SHORT-RUN AGGREGATE SUPPLY CURVE A graphical representation of the short-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The short-run aggregate supply, or SRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market. The other is the long-run aggregate supply curve (LRAS). The demand-side of the aggregate market is occupied by the aggregate demand curve. The positive slope of the SRAS curve captures the direct relation between real production and the price level that exists in the short run.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall trying to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for telephone calls from former employers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"As is our confidence, so is our capacity. " -- William Hazlitt, essayist
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AGI
Adjusted Gross Income
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