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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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MONETARY UNIT: The official (or sometimes unofficial) money used as the medium of exchange for an economy, and by extension as the unit of account for specifying prices. In the United States, for example, the monetary unit is the dollar. Other nations have different money and different monetary units. Germany uses the mark, Japan uses the yen, and England uses the pound. See also | money | money functions | medium of exchange | unit of account |
Recommended Citation:MONETARY UNIT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: May 14, 2026].
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PRICE STABILITY The condition in which the average price level in the economy changes very slowly, if at all. This is a key part of the macroeconomic goal of stability. Price stability is commonly indicated by the inflation rate, calculated as percentage change in either the Consumer Price Index (CPI) or the GDP price deflator. Price stability is generally achieved by the ABSENCE of large or rapid increases or decreases in the price level.
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The average length of a "business lunch" is about 36 minutes.
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"We can't take any credit for our talents. It's how we use them that counts. " -- Madeleine L'Engle, Writer
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MAR
Minimum Acceptable Revenue
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