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SHORT RUN, MACROECONOMICS: In terms of the macroeconomic analysis of the aggregate market, a period of time in which some prices, especially wages, are rigid, inflexible, or otherwise in the process of adjusting. This is one of two macroeconomic time designations; the other is the long run (you might want to see short-run production, too). Short-run wage and price rigidity prevents some markets, especially resources markets and most notably labor markets, from achieving equilibrium. Wage and price rigidity and the resulting resource market imbalances are the source of the positively-sloped short-run aggregate supply curve.
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INTERCEPT, NET EXPORTS LINE The intercept of the net exports line indicates autonomous net exports, net exports that do not depend on the level of domestic income or production. This can be thought of as net exports, exports minus imports, that the foreign sector undertakes regardless of the state of the economy. Autonomous net exports are affected by the net exports determinants, which cause a change in the intercept and a shift of the net exports line.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for fairy dust that tastes like salt.
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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AEA
American Economic Association
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