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C: The standard abbreviation for consumption expenditures by the household sector, especially when used in the study of macroeconomics. This abbreviation is most often seen in the consumption function, specified as C = a + bY, where Y stands for national income. It is also used for the aggregate expenditure equation, AE = C + I + G + (X - M), where I, G, and (X - M) represent expenditures by the other three macroeconomic sectors, business, government, and foreign.
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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between the marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because a monopolistically competitive firm is a price maker and faces a negatively-sloped demand curve, its marginal revenue curve is also negatively sloped and lies below its average revenue (and demand) curve. A monopolistically competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either throw pillows for your bed or a package of blank rewritable CDs. Be on the lookout for letters from the Internal Revenue Service.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Life is not a 'brief candle.' It is a splendid torch that I want to make burn as brightly as possible before handing it on to future generations. " -- Bernard Shaw, journalist
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G10
Group of Ten
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