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EMBARGO: In general, any sort of restriction on foreign trade, in practice, the restriction of exports destined for sale in another country. Unlike tariffs, import quotas, and other nontariff barriers that protect domestic producers from competition, embargoes are intended to punish the export destination country. One of the more famous embargoes in recent decades was the oil embargo that several middle-eastern countries imposed on the United States in the 1970s. This caused higher gasoline prices in the United States, created all sorts of havoc for our economy, and pretty much achieved the punishment objective. The United States is also prone to throw up an embargo here or there when another country acts against our political wishes.
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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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ORANGE REBELOON
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Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for the happiest person in the room.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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SSAP
Statement of Standard Accounting Practice
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