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SHORT-RUN AGGREGATE SUPPLY CURVE: A graphical representation of the short-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The short-run aggregate supply, or SRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market; the other is the long-run aggregate supply curve (LRAS). The demand-side of the aggregate market is occupied by the aggregate demand curve. The positive slope of the SRAS curve captures the direct relation between real production and the price level that exists in the short run.
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ALTERNATIVE UNEMPLOYMENT RATES The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked and reported by the BLS, officially labeled sequentially U1 through U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be under utilized, including unemployment duration, job losers, discouraged workers, marginal workers, and part-time workers.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for attractive cable television service repair people.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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BOP
Balance of Payments
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