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January 21, 2021 

AmosWEB means Economics with a Touch of Whimsy!

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SAY'S LAW: A classical economic proposition stating that the production of aggregate output creates sufficient aggregate demand to purchase all of the output produced. In other words, supply creates its own demand. This is one of the three assumptions underlying the macroeconomic theory of classical economics which concluded that unrestricted market activity would generate full employment. The other two assumptions are flexible prices and saving-investment equality. Say's law is closely associated with the circular flow model.

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YELLOW CHIPPEROON
Your compete MICRO*scope for today

You are the type of person who would rather spend a day at the shopping mall than anything else under the sun. Family and friends know that they can always find you at the shopping mall. Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for small children selling products door-to-door. You should consider shopping at stores or businesses beginning with the letter I, but do not buy any products with a serial number or product code containing the number 731720. Your preferred shopping venue is shopping malls. Your special symbol is the asterisk (*).


Is this You?

As a Yellow Chipperoon, you are happy, happy, happy. You enjoy everything about life and about shopping. You love shopping. You love buying. You love spending. You love to compare products and prices. You love the crowds. You love chatting with the store clerks. You love every bit of the buying process. Nothing dissuades you from having a good time shopping, whether you're buying a box of facial tissues or a new house. Does it get any better than spending an afternoon at the shopping mall? No way!


This isn't me! What am I?
AGGREGATE MARKET ANALYSIS

An investigation of macroeconomic phenomena, including unemployment, inflation, business cycles, and stabilization policies, using the aggregate market interaction between aggregate demand, short-run aggregate supply, and long-run aggregate supply. Aggregate market analysis, also termed AS-AD analysis, has been the primary method of macroeconomic analysis since replacing Keynesian economics in the 1980s. Like most economic analysis, aggregate market analysis employs comparative statics, the technique of comparing the equilibrium after a shock with the equilibrium before a shock.

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Borrowing Through The FINANCIAL MARKETS

We never know whom we might encounter on our leisurely stroll through the economy. Passing by the marble columns of Interstate OmniBank -- the beacon of safety and security -- we have the good fortune of crossing paths with our Ivy-League-educated pillar of the financial community -- Winston Smythe Kennsington III. Although he seems to be a touch condescending, he's kind enough to show us a freshly signed check for $37 gadzillion, which is but a small part of a multi-gadzillion dollar loan from the Interstate OmniBank. To what constructive purpose Winnie will put these funds remains unclear; how this loan will be repaid, he never says; but Winnie proudly reminds us several times that this loan once again proves his unchallenged standing as the majordomo of the financial markets.
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APLS

Two and a half gallons of oil are needed to produce one automobile tire.
"The more you praise and celebrate your life, the more there is in life to celebrate."

-- Oprah Winfrey

DPI
Disposable Personal Income
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