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LAISSEZ FAIRE: A french term that translates into "leave us alone." It has become the rallying cry for many business leaders of the second estate who oppose government intervention, regulation, or even taxation. It's based on the belief that markets alone can achieve an efficient allocation of our resources. This laissez faire philosophy of should be contrasted directly with the philosophy of paternalism, which essentially says "Government needs to care for you because you can't care for yourself."
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WAGES, AGGREGATE SUPPLY DETERMINANT One of several specific aggregate supply determinants assumed constant when the short-run aggregate supply curve is constructed, and that shifts the short-run aggregate supply curve when it changes. An increase in the wages causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in the wages causes an increase (rightward shift) of the short-run aggregate supply curve. Other notable aggregate supply determinants include the technology, energy prices, and the capital stock. Wages are an example of a resource price aggregate supply determinant.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for attractive cable television service repair people.
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The average length of a "business lunch" is about 36 minutes.
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"I've always believed that if you put in the work, the results will come. I don't do things half-heartedly. Because I know if I do, then I can expect half-hearted results. " -- Michael Jordan, basketball player
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NIA
National Income Accounts
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