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NET-EXPORT EFFECT: A change in aggregate expenditures on real production, especially net exports through the foreign sector, that results because a change in the price level alters the relative prices of exports and imports. The net-export effect, also termed the international-substitution effect, 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 real-balance effect and interest-rate effect.
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MARGINAL PRODUCT CURVE A curve that graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of a variable input. The marginal product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and average product curve. The marginal product curve plays in key role in the economic analysis of short-run production by a firm.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time wandering around the shopping mall looking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for neighborhood pets, especially belligerent parrots.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The work of the individual still remains the spark that moves mankind forward. " -- Igor Sikorsky, aeronautical engineer
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