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July 6, 2025 

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OPTION: A contract that gives the buyer an "option" to complete a transaction within a given time period. Options are used frequently in financial markets.

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DEBTOR NATION: A nation that owes more to foreign governments, businesses, and consumers than foreigners owe to domestic governments, businesses, and consumers. The United States, having been a creditor nation for many decades, has now achieved the status of debtor nation. This sort of thing happens when exports are less than imports, creating a deficit in the current account of the balance of payments and thus a surplus in the capital account.

     See also | foreign | domestic | creditor nation | export | import | current account | balance of payments | capital account |


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LONG-RUN AGGREGATE SUPPLY

The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply, commonly abbreviated LRAS, is one of two aggregate supply alternatives, distinguished by the degree of price flexibility. The other is short-run aggregate supply. Long-run aggregate supply is combined with aggregate demand, and often short-run aggregate supply, in the long-run aggregate market (or AS-AD) analysis used to analyze economic growth, business-cycle instability, unemployment, inflation, government stabilization policies, and related macroeconomic topics.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale trying to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?

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.
"Defeat is simply a signal to press onward. "

-- Helen Keller, author, lecturer

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