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QUANTITY THEORY OF MONEY: A theory that states a given percentage change in the money supply leads to an equal percentage change in nominal gross domestic product. This theory is derived from the equation of exchange and is a cornerstone of the monetarists view of macroeconomics. A key assumption in translating the equation of exchange to the quantity theory of money is that the velocity of money is constant (or unaffected by the other key variables--output, price level, and money supply).
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AGGREGATE SUPPLY INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the long-run aggregate supply curve. An increase in aggregate supply in the long-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock is a greater level of full-employment real production.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either decorative garden figurines or a wall poster commemorating last Friday (you know why). Be on the lookout for telephone calls from long-lost relatives.
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In the early 1900s around 300 automobile companies operated in the United States.
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"There is no twilight zone of honesty in business. A thing is right or it's wrong. It's black or it's white. " -- John F. Dodge, automaker
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CPI
Consumer Price Index
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