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WORLD VIEW: An aspect of a scientific theory that includes fundamental, and unverifiable axioms, beliefs, and values about how the world works. On example of an unverifiable world view axiom is belief in the existence of supreme, omnipotent, omniscience being. Political philosophies, which are essential to economic theories, are intertwined with alternative world views.
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DEMAND-DRIVEN BUSINESS CYCLES Business-cycle instability caused by changes in one or more of the four aggregate demand expenditures on gross domestic production--consumption expenditures, investment expenditures, government purchases, and net exports. This is one of two basic types of business cycles--the other being supply-driven business cycles. Demand-driven business cycles tend to be the more common of the two types.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive business advantage. " -- Jack Welch, General Electric chief executive
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LRAS
Long Run Aggregate Supply
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