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SAVING LINE: A graphical depiction of the relation between household saving and household disposable income. The slope of this line is positive, greater than zero, less than one, and goes by the name marginal propensity to save. The vertical intercept of the saving line is autonomous saving. The saving and investment, or leakage and injection, analysis used in Keynesian economics begins with the saving line. Because consumption is the difference between disposable income and saving, the consumption line is a complementary relation to the saving line.
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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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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for letters from the Internal Revenue Service.
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More money is spent on gardening than on any other hobby.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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APR
Annual Percentage Rate
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