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WPI: The abbreviation for Wholesale Price Index, which is an index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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TECHNOLOGY, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the short-run and long-run aggregate supply curves are constructed, and that shifts both aggregate supply curves when it changes. An increase in technology causes an increase (rightward shift) of both aggregate supply curves. A decrease in technology causes a decrease (leftward shift) of both aggregate supply curves. Other notable aggregate supply determinants include wages, energy prices, and the capital stock. Technology comes under the resource quality aggregate supply determinant.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for celebrities who speak directly to you through your television.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Doing the best at this moment puts you in the best place for the next moment. " -- Oprah Winfrey, entrepreneur
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ALAC
Latin American Free Trade Area
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