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MARGINAL UTILITY-PRICE RATIO: The ratio of the marginal utility obtained from consuming a good to the price of the good. This ratio is particular important in determining consumer equilibrium, which is reached when the marginal utility-price ratios are the same for all goods.
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SLOPE, SHORT-RUN AGGREGATE SUPPLY CURVE The positive slope of the short-run aggregate supply curve, reflecting the direct relation between the price level and real production, results for three primary reasons--inflexible resources, frictional and structural unemployment, and purchasing power imbalances.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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ILS
Indirect Least Squares, International Labor Standards
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