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CLASSICAL AGGREGATE SUPPLY CURVE: A graphical representation of the classical economic view of the relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The classical aggregate supply curve is a vertical line that reflects the classical view that the macroeconomy has flexible prices and maintains full employment. This aggregate supply is essentially the long-run aggregate supply curve used in modern aggregate market analysis. It should be compared with the Keynesian aggregate supply curve.
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WPI: The abbreviation for Wholesale Price Index, which is an index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index. See also | Producer Price Index | Consumer Price Index | price level | inflation | money | intermediate good | raw materials |
Recommended Citation:WPI, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: May 27, 2022].
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LEGAL RESERVES The combination of vault cash and Federal Reserve deposits that banks can legally use to satisfy government reserve requirements. Legal reserves, which can also be considered total reserves, are divided between require reserves and excess reserves. Required reserves are used to back up deposits and process daily transactions, while excess reserves are then available for interest-paying loans.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for a thesaurus filled with typos.
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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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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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BCUA
Business Computers Users Association
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