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FEDERAL DEFICIT: An excess of federal government spending over tax collections. The federal deficit has been the subject of on-again, off-again debates among vote-seeking politicians and pointy-headed economists for a number of years. The main points of the debate are: (1) the potential crowding out of investment in capital goods, (2) the use of borrowed funds for either "consumption" or "investment" government purchases, and (3) the constraints imposed on fiscal policy. The jury of pointy-heads remains undecided on these issues.
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MARGINAL FACTOR COST CURVE, MONOPSONY A curve that graphically represents the relation between marginal factor cost incurred by a monopsony for hiring an input and the quantity of input employed. A profit-maximizing monopsony hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a monopsony with market control is positively sloped and lies above the average factor cost curve.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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PBOT
Phildelphia Board of Trade
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