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VERIFIED PRINCIPLE: A generally accepted, verified, fundamental law of nature that has been tested against and verified with real world data. A verified principle begins as an hypotheses implied by a theory, which is then compared against real world observations. If the hypothesis is consistently supported by data, it achieves the rank "verified" principle. This should be contrasted with unverifiable axiom.
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AUCTIONS: Formal markets where buyers and sellers come together to negotiate a price. Auctions are commonly held for agricultural commodities, financial instruments, and works of art. The four most common types of auctions are English, Dutch, sealed-bid, and Walrasian tatonnement. See also | information | asymmetric information | adverse selection | signalling | moral hazard | advertising | market | opportunity cost | labor market |
Recommended Citation:AUCTIONS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024].
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DISINFLATION A decline in the inflation rate. With disinflation, prices continue rising, just not as fast. Numerically speaking, disinflation occurs if the inflation rate over three consecutive years is 10 percent, 6 percent this year, and 4 percent. Disinflation, a reduction in the inflation rate, is not the same as deflation, which is an actual decline in the price level. Should disinflation continue, presumably due to anti-inflationary monetary or fiscal policies, then the average price level might eventually decline, making the transition from disinflation to deflation.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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TC
Total Cost
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