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AMERICAN ASSOCIATION OF UNIVERSITY PROFESSORS: An association of university and college faculty established in 1915 to protect academic freedom. Commonly abbreviated AAUP, this association is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.
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KEYNESIAN DISEQUILIBRIUM The state of the Keynesian model in which aggregate expenditures are not equal to aggregate production, which results in an imbalance that induces a change in aggregate production. In other words, the opposing forces of aggregate expenditures (the buyers) and aggregate production (the sellers) are out of balance. At the existing level of aggregate production, either the four macroeconomic sectors (household, business, government, and foreign) are unable to purchase all of the production that they seek or producers are unable to sell all of the production that they have.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for high interest rates.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Opportunities are usually disguised as hard work, so most people don't recognize them." -- Ann Landers, columnist
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JLEO
Journal of Law, Economics and Organization
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