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AD-AS MODEL: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The AS-AD model, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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SCREENING When confronted by asymmetric information, the use of small bits of information, or indicators, that suggest more comprehensive information. Screening occurs when those with limited information try to identify indicators suggesting more complete information. It is used in markets with adverse selection and moral hazard, especially in labor markets and in the provision of insurance. Common methods of screening include aptitude tests, affiliations, past behavior, and personal characteristics. A related method is signalling.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for telephone calls from long-lost relatives.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The secret of a good memory is attention, and attention to a subject depends upon our interest in it. We rarely forget that which has made a deep impression on our minds. " -- Tyron Edwards, theologian
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QML
Quasi-Maximum Likelihood
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