|
|
UNEMPLOYMENT COMPENSATION: A system of government sponsored insurance, created by the Social Security Act (1935), that provides benefits to unemployed workers. Funding is obtained by taxes on employers. The system is mandated by the federal government, but operated by each state. As such, the amount and duration of the benefits differ from state to state.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 16: Aggregate Shocks | Unit 4: Complex Shifts
|
Page: 15 of 21
|
The case of an decrease in the AD curve. Let's start at long-run equilibrium. All three curves, AD, LRAS, and SRAS, intersect at the same long-run equilibrium values, Po and Qf.- With a leftward shift of the AD curve, the aggregate market achieves short-run equilibrium at a lower price level and less real production.
- The labor market imbalance causes wages and production cost to fall. The SRAS shifts rightward. It stops shifting when it intersects the new AD and the original LRAS curves for a new long-run equilibrium. The price level is even lower and real production returns to full employment.
|
|
|
|
|
|
|
NET INTEREST The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring interest earned by the household sector for supplying capital services. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, corporate profits, and proprietors' income. Net interest is usually less than 10 percent of national income, typically in the 6 to 8 percent range.
Complete Entry | Visit the WEB*pedia |
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"What gets measured gets done." -- Peter Drucker, educator
|
|
M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
