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DOMESTIC: Anything that has to do with activity within the boundaries of a nation. This should be directly contrasted with the term foreign, which refers to anything beyond the boundaries of a nation.
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Lesson 9: Macro Basics | Unit 3: Business Cycles
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- Business cycles, which are recurring expansions and contractions of the aggregate economy.
- Expansions as general increases in economic activity and contractions as general decreases in economic activity.
- An expansion is associated with low or falling unemployment and high or rising inflation, and a contraction is associated with high or rising unemployment and low or falling inflation.
- Some business cycle causes: consumption, investment, government purchases and taxes, net exports, money, and resource supply considerations.
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FOUR-FIRM CONCENTRATION RATIO The proportion of total output in an industry produced by the four largest firms in an industry. This is one of two common concentration ratios. The other is the eight-firm concentration ratio. Another related measure is the Herfindahl index. The four-firm concentration ratio is commonly used to indicate the degree to which an industry is oligopolistic and the extent of market control held by the four largest firms in the industry.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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GNMA
Government National Mortgage Association
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