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OTHER PRICES: A handy term referring to the prices of other goods that affect either the demand for a good or the supply of the good. On the demand side, other prices can be those for substitutes-in-consumption or complements-in-consumption. On the supply side, other prices can be those for either substitutes-in-production or complements-in-production. Changes in other prices cause shifts in the corresponding demand or supply curves.
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PART-TIME WORKERS People who are willing and able to work full-time (over 35 hours per week), but are forced to work less because employers do not need their productive efforts. While part-time workers officially have jobs, and are officially included in the "employed" category when the official unemployment rate is calculated, their labor resources are really only partially unemployed. A person working 20 hours a week, who is willing and able to work 40 hours a week, really should be considered as "half employed."
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs looking to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for jovial bank tellers.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Perhaps the most valuable result of all education is the ability to make yourself do the thing you have to do, when it ought to be done, whether you like it or not; it is the first lesson that ought to be learned; and however early a man's training begins, it is probably the last lesson that he learns thoroughly. " -- Thomas H. Huxley, Scientist
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LRAC
Long Run Average Cost
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