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EURO ZONE: The geographic area occupied by the member nations of the European Economic and Monetary Union that share the same currency (euro) and monetary policy.
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MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for telephone calls from former employers.
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The average length of a "business lunch" is about 36 minutes.
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"How we spend our days is, of course, how we spend our lives. " -- Annie Dillard, essayist
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AER
American Economic Review
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