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AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply (AS) is one half of the aggregate market analysis; the other half is aggregate demand. Aggregate supply, relates the economy's price level, measured by the GDP price deflator, and aggregate domestic production, measured by real gross domestic product. The aggregate supply relation is generally separated into long-run aggregate supply, in which all prices and wages and flexible and all markets are in equilibrium, and short-run aggregate supply, in which some prices and wage are NOT flexible and some markets are NOT in equilibrium.
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MONETARY BASE The combination of currency held by the nonbank public, vault cash held by banks, and Federal Reserve deposits of the banks. Also termed high-powered money, these are the three monetary components over which the Federal Reserve System has relatively complete control. Due to this control, the monetary base is often used as a guide for monetary policy. The monetary base differs from a relative monetary aggregate, M1, through the inclusion of vault cash and Federal Reserve deposits and the exclusion of checkable deposits.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for poorly written technical manuals.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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AFRA
Average Freight Rate Assessment
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