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UNEMPLOYED PERSONS: People who are NOT actively engaged in the production of goods and services, but ARE actively seeking employment in the production of goods and services. This is one of three official categories used to classify individuals by the Bureau of Labor Statistics (BLS) based on information obtained from the Current Population Survey. The other two categories are employed persons and not in the labor force. The sum of employed persons and unemployed persons constitute the civilian labor force. While the general notion of unemployed persons is people who are willing and able to work, but not working, the BLS has specific criteria designed to capture unemployment.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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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 package of blank rewritable CDs or yellow cotton balls. Be on the lookout for small children selling products door-to-door.
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This isn't me! What am I?
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. " -- Henry David Thoreau, philosopher
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WPI
Wholesale Price Index
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