|
|
TECHNOLOGY, AGGREGATE SUPPLY DETERMINANT: One of several specific aggregate supply determinants assumed constant when the short-run and long-run aggregate supply curves are constructed, and that shifts both aggregate supply curves when it changes. An increase in technology causes an increase (rightward shift) of both aggregate supply curves. A decrease in technology causes a decrease (leftward shift) of both aggregate supply curves. Other notable aggregate supply determinants include wages, energy prices, and the capital stock. Technology comes under the resource quality aggregate supply determinant.
Visit the GLOSS*arama
|
|

|
|
|
SUPPLY SHOCK A disruption of market equilibrium caused by a change in a supply determinant and a shift of the supply curve. A supply shock can take one of two forms--a supply increase or a supply decrease. This is one of two disruptions of the market. The other is a demand shock.
Complete Entry | Visit the WEB*pedia |


|
|
BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for a thesaurus filled with typos. Your Complete Scope
This isn't me! What am I?
|
|
|
Three-forths of the gold mined each year is used to manufacture jewelry.
|
|
|
"The human race has only one really effective weapon and that is laughter." -- Mark Twain
|
|
JHR Journal of Human Resources
|
|
|
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
|

|