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DEMAND-DRIVEN BUSINESS CYCLES: Business cycle instability caused by changes in one or more of the four aggregate demand expenditures on gross domestic product--consumption, investment, government purchases, and net exports. This is one of two basic types of business cycles; the other being supply-drive business cycle. Demand-driven business cycles tend to be the more common of the two types. In general, demand-driven business cycles are more responsible for short-term instability, while supply-driven business cycles tend to be more closely associated with long-run changes in the economy.
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MARGINAL REVENUE PRODUCT AND FACTOR DEMAND A perfectly competitive firm's factor demand curve is that negatively-sloped portion of its marginal revenue product curve. A perfectly competitive firm maximizes profit by hiring the quantity of input that equates factor price and marginal revenue product. As such, the firm moves along its negatively-sloped marginal revenue product curve in response to changing factor prices.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks. " -- Malcolm S. Forbes, publisher
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NCUA
National Credit Union Administration
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