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FOREIGN AID: Gifts, loans, technical assistance, and other assorted transfers from one country to another that are intended to improve conditions in the receiving nation. The U. S. has been a major player in this foreign aid game throughout much of the twentieth century. However, most of the more developed countries of the world give aid to the lesser developed ones.
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TOTAL REVENUE, PERFECT COMPETITION The revenue received by a perfectly competitive firm for the sale of its output. Total revenue is one two bits of information a perfectly competitive firm needs to calculate economic profit, the other is total cost. In general, total revenue is the price times quantity--the price received for selling a good times the quantity of the good sold at that price. For a perfectly competitive firm, which receives a single unchanging price for all output sold, the calculation is relatively easy. Two other revenue measures directly related to total revenue are average revenue and marginal revenue. Total revenue is often depicted as a total revenue curve.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Progress begins with the belief that what is necessary is possible. " -- Norman Cousins, editor, writer
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PPC
Production Possibilities Curve
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