|
|
INFLEXIBLE WAGES: The proposition that some wages adjust slowly in response to labor market shortages or surpluses. This condition is most important for macroeconomic activity in the short run and short-run aggregate market analysis. In particular, inflexible (also termed rigid or sticky) wages are a key reason underlying the positive slope of the short-run aggregate supply curve.
Visit the GLOSS*arama
|
|
|
|
|
PERFECT COMPETITION, FACTOR MARKET ANALYSIS The analysis of a factor market characterized by perfect competition indicates that each buyer maximizes profit by equating marginal revenue product to the factor price. This achieves an efficient allocation of resources and provides a benchmark for analyzing other factor market structures, including monopsony, monopoly, and bilateral monopoly.
Complete Entry | Visit the WEB*pedia |
|
|
YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale wanting to buy either a weathervane with a cow on top or a box of multi-colored, plastic paper clips. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope
This isn't me! What am I?
|
|
|
Three-forths of the gold mined each year is used to manufacture jewelry.
|
|
|
"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
|
|
NBV
Net Book Value
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
