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LABOR MARKET: A market that exchanges the services of labor resources. For the macroeconomy, this is a critical aspect of the aggregate resource markets, especially the short-run condition of rigid prices. Labor market wages tend to be rigid in short run. Such wage rigidity, was well as other short run problems, prevent labor markets from achieve equilibrium. The result is either unemployment or overemployment, both of which prevent long-run equilibrium in the aggregate market.
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BANK LIABILITIES What a bank owes, including most notably customer deposits. Bank liabilities are typically listed on the right-hand side of a bank's balance sheet. Bank assets, what a bank owns, are listed on the left-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The most important liability category of most bank is checkable deposits, which is part of the economy's M1 money supply. The largest liability category includes other types of deposits (especially savings deposits, certificates of deposit, and money market deposits) that enter into the M2 and M3 monetary aggregates.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a hepa filter for your furnace or a wall poster commemorating next Thursday. Be on the lookout for pencil sharpeners with an attitude.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Leadership is based on inspiration, not domination; on cooperation, not intimidation. " -- William A. Ward
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Income, Nominal Gross National Product
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