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FEDERAL TRADE COMMISSION ACT: This antitrust law passed in 1914 created the Federal Trade Commission to clarify which practices and activities were illegal under antitrust laws. The Federal Trade Commission Act was one of three major antitrust laws passed in the late 1800s and early 1900s. The other two were the Sherman Act and the Clayton Act. In particular, the Federal Trade Commission was responsible for setting the standards for what constituted unfair competition and for investigating business activities that might lead to monopolization of a market or restraint of trade. The Whealer-Lea Act, passed in 1938, was a major amendment t the Federal Trade Commission Act.
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AGGREGATE MARKET An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for celebrities who speak directly to you through your television.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Nothing will ever be attempted if all possible objections must first be overcome. " -- Samuel Johnson, essayist, critic, lexicographer
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EJ
Economic Journal
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