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ALLOCATION EFFECT: The goal of imposing taxes to change the allocation of resources, that is, to discourage the production, consumption, or exchange or one type of good usually in favor of another. This is one of two reasons that governments impose taxes. The other reason is the revenue effect. Because people would rather not pay taxes, taxes create disincentives to produce, consume, and exchange. If society deems that less of a particular good, such as alcohol, pollution, or cigarettes are "bad," then a tax can reduce its production and consumption, and thus change the allocation of resources.
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REFERENCE WEEK, CURRENT POPULATION SURVEY The calendar week (Sunday through Saturday) containing the 12th day of the month, which is used in the Current Population Survey (CPS) as the time period for documenting the employment and labor force status of respondents. The estimation of the unemployment rate and other employment information generated by the CPS are based on activities of survey respondents during this week. The actual survey is conducted by interviewers working for the Bureau of the Census during the calendar week containing the 19th day, which is termed the survey week.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Whenever you fall, pick up something. " -- Oswald Avery, scientist
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AFC
Average Fixed Cost
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