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January 20, 2022 

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LRAS: The abbreviation of long-run aggregate supply, which is 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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PRINCIPAL-AGENT PROBLEM: A source of inefficiency in the way large businesses and governments are operated that occurs because those making decisions (agents) have different goals than those affected by the decisions (principals).

     See also | information | public choice | moral hazard | adverse selection | logrolling | fifth rule of imperfection | sixth rule of ignorance |


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PRINCIPAL-AGENT PROBLEM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2022. [Accessed: January 20, 2022].


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AUTOMATIC TRANSFER SERVICE ACCOUNTS

Deposit accounts offered by commercial banks, credit unions, savings and loan associations, and mutual savings banks that automatically transfer funds from interest-paying savings account to checking accounts when needed to process checks or to maintain minimum balances. Automatic transfer service (ATS) accounts effectively function as interest-paying checking accounts and are considered as one type of checkable deposits. Other checkable deposits are demand deposits (standard checking accounts), negotiable order of withdrawal (NOW) accounts, and share draft accounts.

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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for letters from the Internal Revenue Service.
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