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USER CHARGE: A tax that's disguised as a price--a charge for the use of a publicly provided good. Government produces and supplies a number of near-public goods, like education, libraries, parks, and transportation systems. The "prices" for these goods are user charges. The logic is that people who benefit from the good and are willing to pay, should pay for them. While this helps pay production costs, it tends to be inefficient.
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TOTAL FIXED COST Cost of production that does NOT change with changes in the quantity of output produced by a firm in the short run. Total fixed cost is one part of total cost. The other is total variable cost. At any and all levels of output, fixed cost is the same. It includes cost that is not dependent on, or is unrelated to, production. The best way to identify fixed cost is to produce zero output. Fixed cost is incurred whether or not any output is produced. A cost measure directly related to total fixed cost is average fixed cost.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for the last item on a shelf.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"My future starts when I wake up every morning . . . Every day I find something creative to do with my life. " -- Miles Davis, musician
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AGI
Adjusted Gross Income
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