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LONG-RUN EQUILIBRIUM: The condition that exists for the aggregate market when the product, financial, and resource markets are in equilibrium simultaneously. This condition is made possible by flexible wages and prices and is represented by the intersection of the AD (aggregate demand) curve and the LRAS (long-run aggregate supply) curve.
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who often opts not to make a purchase, even though it could be problematic down the road. Family and friends wonder how you can be so happy given what you have. Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity. You should consider shopping at stores or businesses beginning with the letter M, but do not buy any products with a serial number or product code containing the number 894393. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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NEEDS The physiological or biological requirements for maintaining life, such as air, water, food, shelter, and sleep. Physiological needs are often contrasted with psychological wants that make life more enjoyable, but are not essential for existence.
Complete Entry | Visit the WEB*pedia |
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Taking A Ride On TRANSPORTATION INFRASTRUCTUREOur pedestrian excursion gives us a ground-level view of the economy, but it's certainly slow and time-consuming. If you're like me, you've probably thought once or twice about jumping into an Omni Motors XL GT 9000 sports coupe to speed us along the way. Or perhaps an Omni Airlines 30-day tourist excursion would make our trip faster and less exhausting. That's one nice thing about modern transportation, it's pretty quick and not too expensive. It also helps us get a whole lot closer to solving the unsolvable problem of scarcity. However, for a really good pedestrian view of transportation and how it helps us along, we'd better remain on foot.
Tell me more...
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Divide each difficulty into as many parts as is feasible and necessary to resolve it." -- Rene Descartes
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UNCTAD
United Nations Conference on Trade and Development
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