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LAGGING ECONOMIC INDICATOR: One of seven economic statistics that tend to move up or down a few months after the expansions and contractions of the business cycle. These statistics paint a pretty clear picture of what the economy was doing a few months back. Lagging economic indicators lag the turning points of the aggregate economy by 3-12 months. After a contraction begins, lagging indicators decline 3 to 12 months later. And 3 to 12 months after a expansion begins, lagging indicators rise.

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Lesson 13: Aggregate Demand | Unit 3: The Curve Page: 12 of 22

Topic: Real-Balance Effect <=PAGE BACK | PAGE NEXT=>

The amount of production we purchase depends on how much money we have and the price of the production we want to buy.
  • A higher price level means money can buy less real production.
  • A lower price level means money can buy more real production.
The real-balance effect is when a change in the price level changes aggregate expenditures on real production because the purchasing power of money changes.
  • Real refers to the real purchasing power of money.
  • Balances refers to the balance of money we have to purchase.

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HERFINDAHL INDEX

A measure of concentration of the production in an industry calculated as the sum of the squares of market shares for each firm. This is one method of summarizing the degree to which an industry is oligopolistic and the concentration of market control held by the largest firms in the industry. Two other measures of industry concentration are the four-firm concentration ratio and the eight-firm concentration ratio.

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APLS

PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for a thesaurus filled with typos.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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ALAC
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