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June 18, 2018 

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NONDURABLE GOOD: A good bought by consumers that tends to last for less than a year. Common examples are food and clothing. The notable thing about nondurable goods is that consumers tend to continue buying them regardless of the ups and downs of the business cycle.

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COUNCIL OF ECONOMIC ADVISORS: A three-member board that advises the President of the United States on economic policy and helps prepare an annual economic report. These three men are economists (they're usually, but not always men and usually, but not always, economists) who keep the President up to date on current economic statistics and do most of the dirty work in terms of formulating the details of economic policies. The Chairman of the Council of Economic Advisors has one of the two most important non-elected voices on economic policy in the nation, with the other being the Chairman of the Board of Governors of the Federal Reserve System.

     See also | economic policies | fiscal policy | economist | Board of Governors, Chairman | Federal Reserve System |


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COUNCIL OF ECONOMIC ADVISORS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: June 18, 2018].


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AGGREGATE SUPPLY INCREASE, SHORT-RUN AGGREGATE MARKET

A shock to the short-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the short-run aggregate supply curve. An increase in aggregate supply in the short-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock can be greater or less than full-employment real production.

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ORANGE REBELOON
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a dozen high trajectory optic orange golf balls or a large red and white striped beach towel. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. "

-- E. M. Forster, writer

CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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