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AS: The abbreviaion for aggregate supply, which is the total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a given time period. Aggregate supply (AS) is one half of the aggregate market analysis; the other half is aggregate demand. Aggregate supply, relates the economy's price level, measured by the GDP price deflator, and aggregate domestic production, measured by real gross domestic product. The aggregate supply relation is generally separated into long-run aggregate supply, in which all prices and wages and flexible and all markets are in equilibrium, and short-run aggregate supply, in which some prices and wage are NOT flexible and some markets are NOT in equilibrium.
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PERSONAL TAX AND NONTAX PAYMENTS The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either super soft, super cuddly, stuffed animals or a large stuffed brown and white teddy bear. 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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"Ships are safe in harbor. But that is not what ships are for." -- Anonymous
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SPE
Subgame Perfect Equilibrium
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