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CHANGE IN REAL PRODUCTION: The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. This should be contrasted directly with a change in aggregate supply. You might also want to review the terms change in quantity supplied and change in supply, as well. A change in real production for short-run aggregate supply actually means real production changes with a movement along a given SRAS. However, a "change in real production" for long-run aggregate supply really refers to a movement along a given LRAS curve and doesn't actually involve a change in production. A change in real production means that we have identified a NEW price level-real production combination on the existing aggregate supply curve. In contrast, a change in aggregate supply means that we have changed, moved, or shifted, the entire aggregate supply curve, the whole range of price levels and real production amounts has changed.
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CONSUMER CONFIDENCE INDEX A measure of consumer attitudes, preferences, and expectations concerning the state of the economy and business cycle conditions that is compiled each month by The Conference Board. The Conference Board is also responsible for compiling the leading, coincident, and lagging economic indicators. The Consumer Confidence Index is one of two primary measures of consumer attitudes. The other is the Index of Consumer Sentiment developed by the University of Michigan.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"I much prefer the sharpest criticism of a single intelligent man to the thoughtless approval of the masses." -- Johannes Kepler, German Astronomer
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OTC
Over the Counter
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