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AGGREGATE MARKET SHOCKS: Disruptions of the equilibrium in the aggregate market (or AS-AD model) caused by shifts of the aggregate demand, short-run aggregate supply, or long-run aggregate supply curves. Shocks of the aggregate market are associated with, and thus used to analyze, assorted macroeconomic phenomena such as business cycles, unemployment, inflation, stabilization policies, and economic growth. The specific analysis of aggregate market shocks identifies changes in the price level (GDP price deflator) and real production (real GDP). However, changes in the price level and real production have direct implications for the unemployment rate, the inflation rate, national income, and a host of other macroeconomic measures.
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FOURTH ESTATE: The journalist, reporters, and other media representatives who keep a watchful eye on the evil-doings of the first and second estates and hopefully provide valuable information to the consumers, workers, and taxpayers of the third estate. However, in that news and journalism has become, along with other businesses, a mega-gadzillion dollar industry, many fourth estate watchdogs have become card-carrying members of the second estate (and some even the first estate). As such, some journalists are more concerned with protecting and promoting business and government interests than consumer interests. See also | information | first estate | second estate | third estate |
Recommended Citation:FOURTH ESTATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: fourth estate
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SCREENING When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Screening occurs when those with limited information try to identify indicators suggesting more complete information. It is used in markets with adverse selection and moral hazard, especially in labor markets and in the provision of insurance. Common methods of screening include aptitude tests, affiliations, past behavior, and personal characteristics. A related method is signalling.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for rusty deck screws.
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More money is spent on gardening than on any other hobby.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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ICCH
International Commodities Clearing House
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