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FISCAL BUDGET: A statement of the financial position of government during its fiscal year based on estimates of anticipated tax revenues and expenditures. The U.S. Federal government's fiscal budget is the source of, and lends its name to, fiscal policy.
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AVERAGE VARIABLE COST CURVE A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one of three average curves. The other two are average total cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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GRAY SKITTERY [What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for crowded shopping malls. Your Complete Scope
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"Democracy is based on the conviction that man has the moral and intellectual capacity . . . to govern himself with reason and justice. " -- Harry Truman, 33rd U.S. president
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MBA Master of Business Administration
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