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July 26, 2024 

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DISCRIMINATION: Treating people differently based on some sort of group characteristic--like race, ethnic origin, or gender--rather then individual abilities. Discrimination is usually most prominent in employment and housing, but can filter into all aspects of life in many subtle ways. Discrimination tends to be inefficient because it limits the number of buyers or sellers that have access to a given market. Those who discriminate in this manner are, in essence, willing to pay extra for the privilege of associating only with "their own kind."

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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, 2000-2024. [Accessed: July 26, 2024].


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AGGREGATE DEMAND DETERMINANTS

An assortment of ceteris paribus factors other than the price level that affect aggregate demand, but which are assumed constant when the aggregate demand curve is constructed. Changes in any of the aggregate demand determinants cause the aggregate demand curve to shift. The specific ceteris paribus factors are commonly grouped by the four, broad expenditure categories--consumption expenditures, investment expenditures, government purchases, and net exports.

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Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for jovial bank tellers.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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