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AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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PRODUCER PRICE INDEX An index of the prices domestic producers receive from selling their output. THE Producer Price Index (PPI) is actually one of several producer price indexes compiled and published monthly by the Bureau of Labor Statistics (BLS). Others track prices for different industries and goods. This is also one of several noted price indexes used to track economic activity. Others include the Consumer Price Index (CPI) and the GDP price deflator.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Everyone is bound to bear patiently the results of his own example. " -- Phaedrus, Philosopher
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APP
Average Physical Product
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