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INTER-AMERICAN DEVELOPMENT BANK: A regional multilateral development institution established 1959 to help accelerate economic and social development in Latin America and the Caribbean. The Bank provides loans and technical assistance using capital provided by its member countries, as well as resources obtained in world capital markets through bond issues. The Bank is owned by its 46 member countries: 26 borrowing member countries in Latin America and the Caribbean, and 20 nonborrowing countries, including the United States, Japan, Canada, 16 European countries, and Israel. The Inter-American Development Bank has its headquarters in Washington, DC.
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MARGINAL REVENUE, MONOPOLISTIC COMPETITION The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopolistically competitive firm receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopolistically competitive firm equates marginal revenue and marginal cost.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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AS-AD
Aggregate Supply-Aggregate Demand Model
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