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AFC: The abbreviation for average fixed cost, which is fixed cost per unit of output, found by dividing total fixed cost by the quantity of output. Average fixed cost is one of three related cost averages. The other two are average variable cost and avarage total cost. Average fixed cost decreases with larger quantities of output. Because fixed cost is FIXED and does not change with the quantity of output, a given cost is spread more thinly per unit as quantity increases. A thousand dollars of fixed cost averages out to $10 per unit if only 100 units are produced. But if 10,000 units are produced, then the average shrinks to a mere 10 cents per unit.
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INTERCEPT, INVESTMENT LINE The intercept of the investment line indicates autonomous investment, investment that does not depend on the level of income or production. This can be thought of as investment that the business sector undertakes regardless of the state of the economy. Autonomous investment is affected by the investment expenditures determinants, which cause a change in the intercept and a shift of the investment line.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"God gives talent; work transforms talent into genius. " -- Anna Pavlova, ballerina
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RATS
Regression Analysis of Time Series (software)
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