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FALLACY OF FALSE AUTHORITY: The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies on their Uncle Clyde for the "correct" answers to all controversial issues. Not that I mean to belittle Uncle Clyde, who is a really nice man and an excellent barber, but he's just not an expert on economic policies.
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MARGINAL RETURNS The change in the quantity of total product resulting from a unit change in a variable input, holding all other inputs fixed. Marginal returns is an older and more generic term for marginal product. While marginal product has largely replaced marginal returns in most discussions of short-run production, the phrase does persist in a few terms like the law of diminishing marginal returns.
Complete Entry | Visit the WEB*pedia |
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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