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AGGREGATE MARKET SHOCKS: Disruptions of the equilibrium in the aggregate market (or AS-AD model) caused by shifts of the aggregate demand, short-run aggregate supply, or long-run aggregate supply curves. Shocks of the aggregate market are associated with, and thus used to analyze, assorted macroeconomic phenomena such as business cycles, unemployment, inflation, stabilization policies, and economic growth. The specific analysis of aggregate market shocks identifies changes in the price level (GDP price deflator) and real production (real GDP). However, changes in the price level and real production have direct implications for the unemployment rate, the inflation rate, national income, and a host of other macroeconomic measures.
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MONOPOLISTIC COMPETITION, ADVERTISING Advertising is commonly used by firms operating under monopolistic competition as a way to create product differentiation and thus to acquire some degree of market control and thus charge a higher price.
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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a wall poster commemorating the first day of spring or a lazy Susan for you dining room table. Be on the lookout for vindictive digital clocks with revenge on their minds.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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Bank Note
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