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INFLATIONARY GAP: The difference between the equilibrium real production achieved in the short-run aggregate market and full-employment real production the occurs when short-run equilibrium real production is more than full-employment real production. An inflationary gap, also termed an expansionary gap, is associated with a business-cycle expansion, especially the latter stages of an expansion. This is one of two alternative output gaps that can occur when short-run production differs from full employment. The other is a recessionary gap.

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In theory, an economic system that relies extensively, if not exclusively, on unregulated markets to exchange resources, goods and services, and to answer the three questions of allocation. In practice, this term is often used synonymously with capitalism.

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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for crowded shopping malls.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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