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TOTAL REVENUE CURVE, MONOPOLY: A curve that graphically represents the relation between total revenue received by a monopoly for selling its output and the quantity of output sold. It is used with the monopoly firm's total cost curve to determine economic profit. The marginal revenue curve, a key factor for determining the profit-maximizing level of a firm's output, is derived directly from the total revenue curve.
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NO-RESERVE BANKING A (hypothetical) method of banking in which banks keep 0 percent of their deposits in the form of bank reserves, meaning that ALL deposits are used for interest-paying loans. No-reserve banking is one of two theoretical alternatives designed to help illustrate a contrast to the fractional-reserve banking actually practiced by modern banks. The other alternative is full-reserve banking. With the no-reserve approach a bank operates as financial intermediary or broker, matching up borrowers and lenders.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a wall poster commemorating the first day of winter or blue cotton balls. Be on the lookout for malfunctioning pocket calculators.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"A leader, once convinced that a particular course of action is the right one, must . . . be undaunted when the going gets tough." -- President Ronald Reagan
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SLTX
Sales Tax
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