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VARIABLE: A quantity, usually represented as a symbol, that can take on one of a set of values. Variables play a key role in the scientific method and economic analysis. A major task undertaken by the study of economics is to identify the specific value of variables such as price, quantity, unemployment, production, wages, income, among a host of others. This often accomplished using assorted models, such as the market model.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Failure is the opportunity to begin again, more intelligently. " -- Henry Ford, automobile manufacturer
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RBC
Real Business Cycle
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