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ENDPOINT FORMULA: A simple technique for calculating the coefficient of elasticity that estimates the elasticity for discrete changes in two variables, A and B. The distinguishing characteristic of this formula is that percentage changes are calculated based on the initial values of each variable. This is much simpler than the midpoint formula, which is based on the percentage change from an average of the initial and ending values. The primary problem with the endpoint formula is that different elasticity values are obtained for price increases than for price decreases of the same segment of the demand curve.
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FEDERAL FUNDS MARKET A financial market used by commercial banks and other depository institutions regulated by the Federal Reserve System to lend and borrow Federal funds (Federal Reserve deposits). The interest rate charged for lending through the Federal funds market is the Federal funds rate.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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LF
Labor Force, Laissez-Faire
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