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MARKET ADJUSTMENT: The economic analysis of the changes in market equilibrium caused by changes in the demand determinants and supply determinants. Given the two curves that comprise the market--the demand curve and the supply curve; each of which can increase or decrease; market adjustment comes in eight varieties. Four involve a shift of EITHER the demand curve OR the supply curve. The other four involve a shift of BOTH the demand curve AND the supply curve.
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GOVERNMENT FAILURES Inefficiencies in the allocation of resources attributable to imperfections in the operation of governments. Government failures are based on the utility-maximizing behavior of politicians, voters, nonvoters, special interest groups, and government employees. The identification and analysis of government failures is central to the study of public choice and offers something of a counterbalance to government actions designed to address the inefficiencies of market failures.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a coffee cup commemorating last Friday (you know why) or a wall poster commemorating the first day of spring. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better." -- Elizabeth Stuart Phelps, Writer
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AMB
Adjusted Monetary Base
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