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LIBERAL: A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) extensive regulation and control by government over the profit-seeking businesses of the second estate.
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AGGREGATE DEMAND INCREASE, SHORT-RUN AGGREGATE MARKET A shock to the short-run aggregate market caused by an increase in aggregate demand, resulting in and illustrated by a rightward shift of the aggregate demand curve. An increase in aggregate demand in the short-run aggregate market results in an increase in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a coffee cup commemorating yesterday or a replacement remote control for your television. Be on the lookout for deranged pelicans.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Success is the child of audacity. " -- Benjamin Disraeli, British statesman
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DARA
Decreasing Absolute Risk Aversion
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