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AGGLOMERATION ECONOMIES: A reduction in production cost the results when related firms locate near one another. Firms can be related as competitors in the same industry, by using the same inputs, or through providing output to the same demographic group. The fashion industry, for example, experiences agglomeration economies because they can share specialized inputs (photographers, models) that would be too expensive to employ full time. Retail stores have agglomeration economies when located in shopping malls because they have access to a large group of potential customers with lower advertising cost. Agglomeration economies is given as one of the primary reasons for the emergence of urban areas.
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EXCHANGE RATES, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in exchanges rates causes an increase (rightward shift) of the aggregate curve. A decrease in the exchanges rates causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants include interest rates, the money supply, inflationary expectations, consumer confidence, and the federal deficit.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for telephone calls from former employers.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Always make a total effort, even when the odds are against you." -- Arnold Palmer
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IER
International Economic Review
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