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LAND: One of four basic categories of resources, or factors of production (the other three are labor, capital, and entrepreneurship). This category includes the natural resources used to produce goods and services, including the land itself; the minerals and nutrients in the ground; the water, wildlife, and vegetation on the surface; and the air above.
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Lesson 12: Business Cycles | Unit 3: Measurement
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Page: 16 of 26
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- The types of measurements used to indicate business cycle activity.
- The use of leading economic indicators that reach turning points 3 to 12 months before business cycle turning points.
- How coincident economic indicators track the actual business cycle turning points.
- How lagging economic indicators, that reach turning points 3 to 12 months after official business cycle turning points, provide valuable information.
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REAL-BALANCE EFFECT A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect. The real-balance effect is somewhat analogous to the income effect underlying the negative slope of the market demand curve.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a birthday gift for your grandfather or a pleather CD case. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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AOQ
Average Outgoing Quality
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