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CHANGE IN PRIVATE INVENTORIES: The increase or decrease in the stocks of final goods, intermediate goods, raw materials, and other inputs that businesses keep on hand to use in production. Formerly termed change in business inventories, this is one of two main categories of gross private domestic investment included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other category is fixed investment. Change in private inventories tend to be about 3 to 5 percent of gross private domestic investment.
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PLANNING HORIZON Another term for the long-run average cost curve. The long-run average cost curve is termed the planning horizon or planning curve because it provides information that a firm can use to plan factory construction and expansion in the long run.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a flower arrangement in a coffee cup for your father or a how-to book on meeting people. Be on the lookout for high interest rates.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"The only profit center is the customer. " -- Peter Drucker, management consultant
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BVAR
Bayesian VAR (Vector Autoregression)
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