|
|
AGGREGATE MARKET EQUILIBRIUM: The state of equilibrium that exists in the aggregate market when real aggregate expenditures are equal to real production with no imbalances to induce changes in the price level or real production. In other words, the opposing forces of aggregate demand (the buyers) and aggregate supply (the sellers) exactly offset each other. The four macroeconomic sector (household, business, government, and foreign) buyers purchase all of the real production that they seek at the existing price level and business-sector producers sell all of the real production that they have at the existing price level. The aggregate market equilibrium actually comes in two forms: (1) long-run equilibrium, in which all three aggregated markets (product, financial, and resource) are in equilibrium and (2) short-run equilibrium, in which the product and financial markets are in equilibrium, but the resource markets are not.
Visit the GLOSS*arama
|
|
|
|
|
TAX PROPORTIONALITY The proportion of income paid in taxes at different levels of income. In some cases the proportion of income paid in taxes increases with income in other cases it decreases. And in still other cases, it remains the same. Tax proportionality comes in three alternatives -- proportional tax (different incomes pay the same proportion in tax), progressive tax (higher incomes pay a higher proportion in tax), and regressive (lower incomes pay a higher proportion in tax).
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for small children selling products door-to-door.
Your Complete Scope
This isn't me! What am I?
|
|
|
Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
|
|
|
"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
|
|
TR
Total Revenue
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
