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LONG-RUN AGGREGATE SUPPLY: The total (or aggregate) real production of final goods and services available in the domestic economy at a range of price levels, during a period of time in which all prices, especially wages, are flexible, and have achieved their equilibrium levels. Long-run aggregate supply (LRAS) is one of two aggregate supply alternatives, distinguished by the degree of price flexibility; the other is short-run aggregate supply (SRAS).
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AMERICAN ENTERPRISE INSTITUTE: A private organization that seeks to maintain and strengthen the foundations of freedom through scholarly research, open debate, and publications. The American Enterprise Institute for Public Policy Research (as it is officially designated) promotes the principles of limited government, private enterprise, vital cultural and political institutions, and a strong foreign policy and national defense. The American Enterprise Institute (AEI) publishes dozens of books and hundreds of articles and reports each year, and an influential policy magazine called The American Enterprise. The AEI is one of the largest and most respected "think tanks" in the United States. The AEI, which was founded in 1943, is located in Washington, D.C. See also | Brookings Institution | National Bureau of Economic Research | Conference Board, The | Bureau of Economic Analysis | Bureau of Labor Economics | Cato Institute | Nobel Prize in Economic Sciences | government | business | corporation | regulation | consumer | economist | economics | economist | liberal | political views | conservative | free enterprise | laissez faire | positive economics | satisfaction | resource allocation | economic thinking | economic analysis | economic system | mixed economy | capitalism | communism | socialism |
Recommended Citation:AMERICAN ENTERPRISE INSTITUTE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: March 22, 2023].
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UNEMPLOYED The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying an individual's labor force status--employed persons. The other two BLS categories are employed persons and not in the labor force.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for infected paper cuts.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"Most of the things worth doing in the world had been declared impossible before they were done." -- Louis D. Brandeis, Supreme Court Justice
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