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TRANSFERRABLE INPUT: An input that has a relatively large geographic market area due to the low cost of transportation. The low transportation cost means it is easier (that is, less expensive) to bring the input to the production activity rather than locating the production activity near the input. Like many things, transferrable inputs are a matter of degree. At the other end of the spectrum lies local inputs. Most manufactured intermediate goods tend to have a high degree of transferability. Information and energy inputs are also relatively easily transported.
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MACROECONOMIC PROBLEMS Undesirable situations that exist in the macroeconomy, largely because one or more of the macroeconomic goals are not satisfactorily attained. The primary problems are unemployment, inflation, and stagnant growth. Macroeconomic theories are designed to explain why these problems emerge and to recommend corrective policies.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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PPC
Production Possibilities Curve
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