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LABOR MARKET: A market that exchanges the services of labor resources. For the macroeconomy, this is a critical aspect of the aggregate resource markets, especially the short-run condition of rigid prices. Labor market wages tend to be rigid in short run. Such wage rigidity, was well as other short run problems, prevent labor markets from achieve equilibrium. The result is either unemployment or overemployment, both of which prevent long-run equilibrium in the aggregate market.
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MACROECONOMIC THEORIES: Scientific theories that seek to explain phenomena associated with the macroeconomy. The primary phenomena investigated are unemployment, inflation, and the level of aggregate production. Macroeconomic theories also inevitably provide policy recommendations intended to improve the performance of the economy and to correct macroeconomic problems. A few of the more noted macroeconomic theories are: Classical economics, Keynesian economics, aggregate market (AS-AD) analysis, IS-LM analysis, Monetarism, and New Classical economics. See also | macroeconomic problems | unemployment | inflation | theory | verification | economic science | macroeconomy | gross domestic product | unemployment | inflation | interest rate | consumption expenditures | price level | investment expenditures | saving | taxes | Adam Smith | flexible prices | market equilibrium | full employment | production | aggregate demand | Classical economics | Keynesian economics | John Maynard Keynes | stagflation | financial market | product market | money | scientific method | economic analysis | political views | conservative | liberal | circular flow | macroeconomic sectors | macroeconomic markets | product markets | financial markets | business cycles | stabilization policies | Nobel Prize in Economic Sciences | conservative | liberal |
Recommended Citation:MACROECONOMIC THEORIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: April 27, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: macroeconomic theories
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NATURAL UNEMPLOYMENT The combination of frictional and structural unemployment that persists in an efficient, expanding economy when labor and resource markets are in equilibrium. Natural unemployment exists when the economy is at full employment, which for practical purposes is defined as the condition in which the quantity of resources demanded is equal to the quantity of resources supplied. Most important for policy purposes, natural employment exists with stable prices, that is, no inflation.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for crowded shopping malls.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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JGB
Japanese Government Bond
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