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DEATH RATE: The number of people dying per 1,000 population. The death rate is compared with the birth rate to indicate the natural population growth of a country. (Net migration is also needed in the calculation of the final, overall, actual growth of population.) The death rate most frequently comes up in economic development discussions of less developed countries and their progress (or lack thereof) through the demographic transition.
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LONG-RUN 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 period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply, commonly abbreviated LRAS, is one of two aggregate supply alternatives, distinguished by the degree of price flexibility. The other is short-run aggregate supply. Long-run aggregate supply is combined with aggregate demand, and often short-run aggregate supply, in the long-run aggregate market (or AS-AD) analysis used to analyze economic growth, business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Success is going from failure to failure without a loss of enthusiasm. " -- Winston Churchill, British statesman
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RJE
RAND Journal of Economics
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