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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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CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS: An index of prices of goods and services typically purchased by urban wage earners and clerical workers. This carries the official abbreviation CPI-W to distinguish it from it's more famous sister index CPI-U, which is the standard Consumer Price Index for All Urban Workers, (commonly abbreviated simply as CPI). Like the standard CPI, the CPI-W is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-W is a continuation of the original CPI developed early in the 1900s to provide cost-of-living adjustment information to wage-earning workers. See also | Consumer Price Index | price level | index | consumer | Bureau of Labor Statistics | inflation | nominal | real | wage | income | Social Security | GDP price deflator | Producer Price Index | Consumer Price Index for All Urban Consumers | civilian labor force |
Recommended Citation:CONSUMER PRICE INDEX FOR URBAN WAGE EARNERS AND CLERICAL WORKERS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: May 7, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: Consumer Price Index for Urban Wage Earners and Clerical Workers
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SUPPLY CURVE A graphical representation of the relation between the supply price and quantity supplied, holding all ceteris paribus supply determinants constant. A supply curve graphically illustrates the law of supply, the direct relation between supply price and quantity supplied for a particular good. It is one half of the standard market model. A demand curve is the other half.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at an auction wanting to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger. " -- Lou Holtz, Football Coach
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MMSE
Minimun Mean Square Error
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