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RECOVERY: A early expansionary phase of the business cycle shortly after a contraction has ended, but before a full-blown expansion begins. During a recovery, the unemployment rate remains relatively high, but it is beginning to fall. Real gross domestic product has begun to increase, usually rapidly. However, because the contraction remains fresh in the minds of many, it may not be immediately clear that the trough of the contraction has been reached.
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LAW OF INCREASING OPPORTUNITY COST The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for fairy dust that tastes like salt.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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ADR
American Depositary Receipt, Asset Depreciation Range
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