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MANAGED FLOAT: An exchange rate that (like a floating exchange rate) is free to move up and down, but is subject to government control (like a fixed exchange rate) if it moves beyond certain boundaries. With managed float, the government steps into the foreign exchange market and buys or and sells whatever currency is necessary keep the exchange rate within desired limits. The logic behind managed float is that an unrestricted movement of exchange rates is usually pretty healthy, but serious problems in the balance of payment and balance of trade result if it floats too far in either direction.
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AVERAGE VARIABLE COST Total variable cost per unit of output, found by dividing total variable cost by the quantity of output. When compared with price (per unit revenue), average variable cost (AVC) indicates whether or not a profit-maximizing firm should shut down production in the short run. Average variable cost is one of three average cost concepts important to short-run production analysis. The other two are average total cost and average fixed cost. A related concept is marginal cost.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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IEBNR
Income Earned But Not Received
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