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AGGREGATE SUPPLY DETERMINANTS: An assortment of ceteris paribus factors that affect both short-run aggregate supply and long-run aggregate supply, but which are assumed constant when the short-run and long-run aggregate supply curves are constructed. Changes in any of the aggregate supply determinants cause the short-run and long-run aggregate supply curves to shift. While a wide variety of specific ceteris paribus factors can cause the aggregate supply curves to shift, it's usually most convenient to group them into three broad categories -- resource quantity, resource quality, and resource prices.

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CONTRACTIONARY MONETARY POLICY: A form of stabilization policy consisting of a decrease in the amount of money in circulation (that is, the money supply). This policy is designed to avoid or correct the problems associated with a business-cycle expansion that gets out of hand and causes inflation.

     See also | stabilization policies | business cycle | monetary policy | expansion | inflation | money supply | open market operations | discount rate |


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CONTRACTIONARY MONETARY POLICY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 15, 2025].


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SERVICE

Activities that provide direct satisfaction of wants and needs without the production of tangible products or goods. Like the related term good, a service is produced using society's resources and represents a fundamental aspect of the economy. Limited resources are used to produce the services that satisfy unlimited wants and needs in an ongoing effort to address the problem of scarcity.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for infected paper cuts.
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More money is spent on gardening than on any other hobby.
"The time to repair the roof is when the sun is shining."

-- John F. Kennedy, 35th U. S. president

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