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MEDIATION: Intervention by an impartial third party to settle disputes between two others. The actions of this third party--the mediator--are not legally binding. Mediators are frequently used in collective bargaining negotiations when unions and their employers have reached an impasse. Mediators help both sides work out a satisfactory agreement. But neither side is legally compelled to follow the mediator's advice.
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Lesson 8: Market Shocks | Unit 1: Adjustments
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Page: 2 of 20
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There are three basic questions about market changes which we need to ask in this lesson. Three questions: - What causes the market to move? What shocks the market? What disrupts the market from it's existing equilibrium?
- What are the consequences of the move to the market? What is the price and quantity at the new market equilibrium?
- Is the market move good or bad? How does the new equilibrium compare with the old? Is the price higher or lower? Is the quantity greater or less? Three Questions
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AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The road to success is always under construction. " -- Lily Tomlin, Actress
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BVAR
Bayesian VAR (Vector Autoregression)
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