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DISEQUILIBRIUM PRICE: Any price that fails to balance the market forces of forces of demand and supply and equate the quantity demanded and quantity supplied. In other words, any market price other than the equilibrium price. A disequilibrium price can be either too high (above the equilibrium price) or too low (below the equilibrium price). A price above the equilibrium price creates a surplus in which the quantity supplied is greater than the quantity demanded. A price below the equilibrium price creates a shortage in which the quantity demanded is greater than the quantity supplied.
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OUTPUT GAPS Recessionary and inflationary gaps created by differences between equilibrium real production achieved by the short-run aggregate market and full-employment real production. A recessionary gap occurs if short-run equilibrium real production is less than full-employment real production. An inflationary gap results if short-run real equilibrium production is greater than full-employment real production.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Gravitation can not be held responsible for people falling in love." -- Albert Einstein
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Osaka Securities Exchange (Japan)
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