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August 3, 2015 

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ADJUSTMENT, SHORT-RUN AGGREGATE MARKET: Disequilibrium in the short-run aggregate market induces changes in the price level that restore equilibrium. If the price level is above the short-run equilibrium price level, economy-wide product market surpluses cause the price level to fall. If the price level is below the short-run equilibrium price level, economy-wide product market shortages cause the price level to rise. In both cases short-run equilibrium is restored. You might want to compare adjustment, long-run aggregate market. Price level changes induce changes in both aggregate expenditures and real production. Unlike the long-run aggregate market, changes in the price level can induce changes in short-run aggregate supply, making it greater or less than full-employment real production.

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TRANSPORTATION: The movement of a good, resource, or commodity from one location to another. This is one of two primary types of production activity, the other being the physical transformation of a good. Transportation invariably involves significant amounts of capital goods, which makes it an industry prone toward either oligopoly or monopoly. In fact, many major oligopoly and monopoly industries are heavily involved with transportation. Public utility monopolies top the list (electricity and natural gas distribution). Oligopoly examples include airlines, railroads, long distance telephone, and television broadcasting.

     See also | production | capital | oligopoly | monopoly | market structure | public utility |


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TRANSPORTATION, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2015. [Accessed: August 3, 2015].


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KEYNESIAN EQUILIBRIUM

The state of macroeconomic equilibrium identified by the Keynesian model when the opposing forces of aggregate expenditures equal aggregate production achieve a balance with no inherent tendency for change. Once achieved, a Keynesian equilibrium persists unless or until it is disrupted by an outside force, especially changes in autonomous expenditures.

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APLS

State of the ECONOMY

Real GDP
First Quarter 2015
$17,693.3 Billion (Annual Rate) Source: BEA
Down 0.2% 3rd Estimate

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BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?

The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"It is only our deeds that reveal who we are. "

-- Carl Jung, psychiatrist

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