|
|
KINKED-DEMAND CURVE: A demand curve with two distinct segments with different elasticities that join to form a kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is directly based on the interdependent decision-making of oligopolistic firms.
Visit the GLOSS*arama
|
|
|
|
                          
LONG-RUN AGGREGATE MARKET: A macroeconomic model relating the price level and real production under the assumption that ALL prices flexible. This is one of two aggregate market submodels used to analyze business cycles, aggregate production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The other is the short-run aggregate market. The long-run aggregate market isolates the interaction between aggregate demand and long-run aggregate supply. The key assumption of this model is that ALL prices, especially resource prices, are flexible. The primary result of this model is that the economy achieves long-run equilibrium at full-employment real production. See also | aggregate market | long run, macroeconomics | price level | real production | flexible prices | short-run aggregate market | aggregate demand | long-run aggregate supply | long-run equilibrium | full employment | full-employment real production |
Recommended Citation:LONG-RUN AGGREGATE MARKET, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: October 4, 2023].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: long-run aggregate market
Search Again?
Back to the GLOSS*arama
|
|
|
FEDERAL DEPOSIT INSURANCE CORPORATION An independent agency of the federal government that insures deposits in banks and other depository institutions which is intended to preserve and promote public confidence in the U.S. financial system. The Federal Deposit Insurance Corporation (FDIC) was created in 1933 in response to the thousands of bank failures that occurred during the Great Depression. It is one of the key agencies, along with the Federal Reserve System and Comptroller of the Currency, responsible regulating the U.S. banking industry.
Complete Entry | Visit the WEB*pedia |
|
|
|
Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
|
|
|
"Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with follow-through who excel. " -- Mary Kay Ash, May Kay Cosmetics founder
|
|
AR(N)
A nth-order Autoregressive Process
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
