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REAL-BALANCE EFFECT: A change in aggregate expenditures on real production made by the household, business, government, and foreign sectors that results because a change in the price level alters the purchasing power of money. This is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are interest-rate effect and net-export effect.
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AVERAGE COST The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for door-to-door salesmen.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Failure is the opportunity to begin again, more intelligently. " -- Henry Ford, automobile manufacturer
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APR
Annual Percentage Rate
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