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ECONOMIC REPORT OF THE PRESIDENT: An annual report of the economic performance of the U.S. economy written by the Chairman of the Council of Economic Advisors (CEA). It provides an overview of the nation's economic progress. A goal of the report is to provide the President with objective economic analysis and advice on the development and implementation of a wide range of domestic and international economic policy issues. The Council of Economic Advisors, the governmental body responsible for the report, was established by the Employment Act of 1946. The Economic Report of the President has been published every year since 1950.
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AVERAGE PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average product, usually abbreviated AP, is found by dividing total product by the quantity of the variable input. Average product, which occasionally goes by the alias average physical product (APP), is one of two measures derived from total product. The other is marginal product.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales wanting to buy either storage boxes for your family photos or a large, stuffed giraffe. Be on the lookout for malfunctioning pocket calculators.
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The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
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"Be a yardstick of quality. Some people aren't used to an environment where excellence is expected. " -- Steve Jobs, Apple Computer co-founder
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KCBT
Kansas City Board of Trade
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