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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 14: Aggregate Supply | Unit 2: Two Options Page: 5 of 20

Topic: Long Run <=PAGE BACK | PAGE NEXT=>

In the long run all prices are flexible, which ensures that all markets are in equilibrium.
  • Prices rise to eliminate market shortages and fall to eliminate market surpluses, resulting in equilibrium.
  • Equilibrium in the labor market is particularly important:
    • In the long run, the labor market is characterized by both flexible prices and full employment.
    • The economy is operating on the boundary of the production possibilities curve.
  • The time it takes prices to adjust to correct market disequilibrium and get to the long run is critical to the study of macroeconomics and government policies.

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SAVINGS AND LOAN ASSOCIATIONS

Depository financial institutions that were originally established to assist home owners with low-cost mortgage loans using savings deposits. Savings and loan associations (S&Ls) offer checkable deposits that are part of the M1 monetary aggregate. While S&Ls are not "officially" chartered as banks, similar to other thrift institutions (credit unions and mutual savings banks) they do function comparable to any traditional bank, offering a wide range of deposits, loans, and other financial services.

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Today, you are likely to spend a great deal of time watching infomercials looking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for attractive cable television service repair people.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"Give the American people a good cause, and there's nothing they can't lick. "

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