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AFC: The abbreviation for average fixed cost, which is fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. Average fixed cost is one of three related cost averages. The other two are average variable cost and avarage total cost. Average fixed cost decreases with larger quantities of output. Because fixed cost is FIXED and does not change with the quantity of output, a given cost is spread more thinly per unit as quantity increases. A thousand dollars of fixed cost averages out to $10 per unit if only 100 units are produced. But if 10,000 units are produced, then the average shrinks to a mere 10 cents per unit.
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FEDERAL DEFICIT, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the federal deficit causes an increase (rightward shift) of the aggregate curve. A decrease in the federal deficit causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants are interest rates, inflationary expectations, and the money supply.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either storage boxes for your income tax returns or an AC adapter for your CD player. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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John Maynard Keynes was born the same year Karl Marx died.
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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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ASEAN
Association of South East Asian Nations
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