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LONG-RUN PRODUCTION: An analysis of the production decision made by a firm in the long run. The central feature of this long-run analysis is returns to scale, which results in the long run even though all inputs are variable. Returns to scale are reflected in the long-run average cost curve as either economies to scale or diseconomies to scale.
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AGGREGATE MARKET An economic model relating the price level and real production that is used to analyze business cycles, gross production, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, but adapted to the macroeconomy, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers). Also known by the names AS-AD model or income-price model, the aggregate market is THE cornerstone model of macroeconomic analysis.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for deranged pelicans.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Failure will never overtake me if my determination to succeed is strong enough." -- Og Mandino, Author and Speaker
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S&D
Supply and Demand
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