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ASEAN: The Association of Southeast Asian Nations (ASEAN) is a subregional organization established in 1967 in Bangkok by the five original Member Countries: Indonesia, Malaysia, Philippines, Singapore, and Thailand. Brunei Darussalam joined in 1984, Vietnam in 1995, Laos and Myanmar in 1997, and Cambodia in 1999. The aims and purposes of the Association are to accelerate the economic growth, social progress and cultural development in the region and to promote regional peace and stability through abiding respect for justice and the rule of law.
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Lesson 11: Elasticity Basics | Unit 4: A Continuum
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Page: 17 of 25
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Topic:
Perfectly Elastic
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- At one end of the elasticity continuum is perfectly elastic:
- Perfectly elastic is an elasticity alternative in which infinitesimally small changes in one variable (price) cause infinitely large changes in another variable (quantity).
- This works for both the price elasticity of demand and the price elasticity of supply, because the negative value of the price elasticity of demand is ignored.
- Perfectly elastic demand and supply are represented by horizontal demand and supply curves.
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LONG-RUN TREND The pattern of potential real gross domestic product of an economy based on full employment of available resources. The long-run trend is commonly represented as a positively-sloped line in a diagram depicting business-cycle phases. This slope captures the economy's expansion in its production possibilities resulting from increases in the quantity and quality of resources.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for jovial bank tellers.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"My life as a writer consists of 1/8 talent and 7/8 discipline. " -- John Irving, writer
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NYBOR
New York Interbank Offered Rate
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