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KINKED-DEMAND CURVE: A demand curve with two distinct segments with different elasticities that join to form a kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is directly based on the interdependent decision-making of oligopolistic firms.
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Lesson 12: Business Cycles | Unit 3: Measurement
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Page: 15 of 26
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Lagging economic indicators lag the turning points of business cycles by 3 to 12 months.- Lagging indicators 'seal the deal' by certifying that a contraction or an expansion is over.
- The next turning point usually doesn't begin until lagging indicators confirm that the last one has happened.
- Seven statistics are used as lagging indicators, including in the inflation rate, consumer debt, and the prime interest rate.
- The Composite Index of Lagging Indicators, displayed in this graph, combines all seven into a single number. This index turns after the official business cycle.
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MARKET EQUILIBRIUM The state of equilibrium that exists when the opposing market forces of demand and supply achieve a balance with no inherent tendency for change. Once achieved, a market equilibrium persists unless or until it is disrupted by an outside force, especially the demand and supply determinants. A market equilibrium is indicated by equilibrium price and equilibrium quantity.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for cardboard boxes.
Your Complete Scope
This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"What gets measured gets done." -- Peter Drucker, educator
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ANN REPT
Annual Report
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