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RESOURCE PRICE, AGGREGATE SUPPLY DETERMINANT: One of three categories of aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and which shifts the aggregate supply curve when it changes. An increase in a resource price causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in a resource price causes an increase (rightward shift) of the short-run aggregate supply curve. The other two categories of aggregate supply determinants are resource quantity and resource quality. Specific determinants falling into this general category include wages and energy prices. Anything affecting the prices paid for the use of labor, capital, land, and entrepreneurship is also included.
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CURRENCY Pieces of paper and metal coins that circulate around the economy as the medium of exchange. Currency is usually (not always, but usually) authorized and used by the national government. U.S. currency is denominated in dollars and issued the Federal Reserve System (paper currency) and the U.S. Department of the Treasury (metal coins). Currency is approximately one-half of the official M1 monetary aggregate tracked by the Federal Reserve System. The other half is checkable deposits maintained by banks.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for the happiest person in the room.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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