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April 17, 2024 

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CLOSED ECONOMY: An economy with little or no foreign trade. A country with a closed economy can usually tend to it's problems without worrying about other countries. During the 1950s and 1960s, the good old U. S. of A. had relatively little foreign trade, and was very nearly a closed economy. But that was a unique period in the United States unmatched before or since. In fact, it's very difficult to find a real-life closed economy anywhere in the world today. Because of this, you should take a close look at the entry open economy.

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STABILIZATION POLICIES: Economic policies undertaken by government to counteract business cycle fluctuations and prevent high rates of unemployment and inflation. These are also termed counter-cyclical policies. To counter a business cycle contraction and high rates of unemployment, expansionary policies that promote increasing economic activity are appropriate. To counter an inflationary expansion, contractionary policies are recommended.

     See also | economic policies | fiscal policy | monetary policy | business cycle | unemployment | inflation | expansionary fiscal policy | expansionary monetary policy | contractionary fiscal policy | contractionary monetary policy |


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STABILIZATION POLICIES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: April 17, 2024].


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AGGREGATE SUPPLY SHIFTS

Changes in the aggregate supply determinants shift both the short-run aggregate supply curve and the long-run aggregate supply curve. The mechanism is comparable to that for market supply determinants and market supply. There are two options--an increase in aggregate supply and a decrease in aggregate supply. An increase in resource quantity or quality or a decrease in resource price shifts one or both of the aggregate supply curves to right. A decrease in resource quantity or quality or an increase in resource price shifts one or both of the aggregate supply curves to left.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a package of 3 by 5 index cards, the ones without lines or a blue mechanical pencil. Be on the lookout for slightly overweight pizza delivery guys.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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Multilateral Trade Negotiations
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