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JAWBONING: The use of verbal encouragement or discouragement by political leaders or other influential people to achieve particular results. This term was coined in reference to actions by President Lyndon Johnson in the 1960s. It is essentially an attempt by the President or other influential leaders to change public sentiment and move the economy in a particular direction without implementing or waiting for the results of formal economic policies. This also goes by the term moral suasion.
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AGGREGATE DEMAND DECREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by a decrease in aggregate demand resulting in and illustrated by a leftward shift of the aggregate demand curve. A decrease in aggregate demand in the long-run aggregate market results in an increase in the price level but no change in real production. The level of real production resulting from the aggregate demand shock is full-employment real production.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for slow moving vehicles with darkened windows.
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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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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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MC
Marginal Cost
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