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DISEQUILIBRIUM, LONG-RUN AGGREGATE MARKET: The state of the long-run aggregate market in which real aggregate expenditures are NOT equal to full-employment real production, which result in imbalances that induce changes in the price level. In other words, the opposing forces of aggregate demand (the buyers) and long-run aggregate supply (the sellers) are out of balance. Either the four macroeconomic sector (households, business, government, and foreign) buyers are unable to purchase all of the real production that they seek at the existing price level or business-sector producers are unable to sell all of the full-employment real production that they have available at the existing price level.
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ELASTICITY ALTERNATIVES, DEMAND Five categories of the price elasticity of demand that reflect the entire range of the relative responsiveness of a change in quantity demanded to a change in price. These five alternatives--perfectly elastic, relatively elastic, unit elastic, relatively inelastic, and perfectly inelastic--are often illustrated by different demand curves. The price elasticity of supply is also reflected by five comparable alternatives.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. " -- Napoleon Hill, author
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NLREG
Nonlinear Statistical Regression
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