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OKUN'S LAW: A relationship that says that the gap between actual and full employment output level of gross domestic product widens by 3.0% for each percentage point increase in the unemployment rate. When Arthur Okun discovered this empirical relationship he was on President Kennedy's Council of Economic Advisers (CEA). Okun cautioned that the relationship was valid only within unemployment rates of 3% and 7.5%.
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MARKET CLEARING A condition of the market in which the quantity demanded is equal to the quantity supplied, such that the market is "clear" of any shortage or surplus. Market clearing is a common, non-technical term for equilibrium. In a market graph, the market clearing is found at the intersection of the demand curve and the supply curve.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either a large red and white striped beach towel or a bottle of blackcherry flavored spring water. Be on the lookout for poorly written technical manuals.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"The work of the individual still remains the spark that moves mankind forward. " -- Igor Sikorsky, aeronautical engineer
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SEC
Securities and Exchange Commision
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