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LONG-RUN AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply (LRAS) is one of two aggregate supply alternatives, distinguished by the degree of price flexibility; the other is short-run aggregate supply (SRAS).
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PRIVATIZATION The process of converting or "selling off" government-owned assets, properties, or production activities to private ownership. Privatization is usually undertaken either to generate revenue for the government or as part of an overall laissez faire approach to the economy.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for deranged pelicans.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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EBC
Electronic Business Communications
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