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April 21, 2018 

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GOLD CERTIFICATE: Paper currency issued by the U. S. Treasury from the civil war until 1933 that could be exchanged for an equal value of gold. Gold certificates were used as part of a gold standard. With the exception of collectors, gold certificates have long been out of circulation, replaced first by silver certificates, then in the past few decades by Federal Reserve notes.

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IMPACT LAG: In the context of economic policies, the time between corrective government action responding to a shock to the economy and the resulting affect on the economy. This is one of four lags in the use of economic policies. The others are recognition lag, decision lag, and action lag. The length of the impact lag, also termed outside lag, is primarily based on the speed of the multiplier process and is essentially the same for both fiscal and monetary policy. The length of the policy lags is one argument against the use of discretionary policies to stability business cycles.

     See also | economic policies | policy lags | inside lag | recognition lag | decision lag | action lag | business cycle | multiplier | circular flow |


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IMPACT LAG, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: April 21, 2018].


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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 given time period. Aggregate supply, usually abbreviated AS, is two different relations between price level and real production--long run and short run. With long-run aggregate supply, prices and wages are flexible and all markets are in equilibrium. With short-run aggregate supply some prices and wage are NOT flexible and some markets are NOT in equilibrium. This is one half of the AS-AD (aggregate market) analysis. The other half is aggregate demand.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for attractive cable television service repair people.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. "

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