Absolute (Money) Price

Absolute (Money) Price The price of a
good in money terms.
Absolute Real Economic Growth An
increase in Real GDP from one period to
the next.
Abstract The process (used in building a
theory) of focusing on a limited number of
variables to explain or predict an event.
Accounting Profit The difference between
total revenue and explicit costs.
Activists Persons who argue that monetary
and fiscal policies should be deliberately
used to smooth out the business cycle.
Adaptive Expectations Expectations
that individuals form from past experience
and modify slowly as the present and the
future become the past (i.e., as time passes).
Adjustable Rate Mortgage A mortgage
loan where the interest rate on the loan is
adjusted periodically depending on various
factors.
Adverse Selection A phenomenon in
which the parties on one side of the market,
who have information not known to others,
self-select in a way that adversely affects the
parties on the other side of the market.
Aggregate Demand The quantity
demanded of all goods and services (Real
GDP) at different price levels, ceteris paribus.
Aggregate Demand (AD) Curve A
curve that shows the quantity demanded
of all goods and services (Real GDP) at
different price levels, ceteris paribus.
Aggregate Supply The quantity supplied
of all goods and services (Real GDP) at
different price levels, ceteris paribus.
Antitrust Law Legislation passed for the
stated purpose of controlling monopoly power
and preserving and promoting competition.