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DEPRECIATION, CURRENCY: The declining value of one currency, in terms of its ability to purchase goods and services. This is most often seen as a change in the exchange rate of the currency for the currencies of other nations.
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LONG-RUN TOTAL COST The opportunity cost incurred by all of the factors of production used in the long run (when all inputs are variable) by a firm to produce a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit earned by entrepreneurs. Unlike short-run total cost, long-run total cost cannot be separated into fixed cost and variable cost. In the long run, all inputs are variable, so all cost is variable.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"Never let the fear of striking out get in your way. " -- Babe Ruth, baseball player
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IRBNE
Income Received But Not Earned
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