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FIDUCIARY: Relating to confidence or trust of one person in another, especially has it applies to financial matters. For example, you might give a lawyer, broker, or agent might be given fiduciary authority to access your bank account, pay your taxes, or maintain your investments. Alternatively, corporate executive might have the fiduciary authority to enter into contracts, write checks, or otherwise operate as a financial agent for the corporation.
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ADJUSTMENT, SHORT-RUN AGGREGATE MARKET: Disequilibrium in the short-run aggregate market induces changes in the price level that restore equilibrium. If the price level is above the short-run equilibrium price level, economy-wide product market surpluses cause the price level to fall. If the price level is below the short-run equilibrium price level, economy-wide product market shortages cause the price level to rise. In both cases short-run equilibrium is restored. You might want to compare adjustment, long-run aggregate market. Price level changes induce changes in both aggregate expenditures and real production. Unlike the long-run aggregate market, changes in the price level can induce changes in short-run aggregate supply, making it greater or less than full-employment real production. See also | aggregate market | aggregate market analysis | short-run aggregate market | equilibrium | disequilibrium | price level | real production | product market | resource market | surplus | shortage | adjustment, long-run aggregate market | change in aggregate expenditures | change in real production | full employment |
Recommended Citation:ADJUSTMENT, SHORT-RUN AGGREGATE MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: November 15, 2025].
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INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials hoping to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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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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"Do something wonderful; people may imitate it. " -- Albert Schweitzer, theologian, physician
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MMSE
Minimun Mean Square Error
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