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UNEMPLOYMENT RATE: The proportion of the civilian labor force 16 years or older that is actively seeking employment, but is unemployed and not engaged in the production of goods and services. The unemployment rate is estimated and reported monthly by the U.S. Department of Labor's Bureau of Labor Statistics. It is used not only as the prime measure of labor unemployment in the economy, but also as a key indicator of business-cycle instability. In principle, the unemployment rate measures the proportion of the labor that is willing and able to work, but employed. In practice, the official unemployment rate is simply the ratio of total unemployment to the total civilian labor force, in percentage terms.
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TOTAL REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between the total revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. It is combined with a perfectly competitive firm's total cost curve to determine economic profit and the profit maximizing level of production. The slope of the total revenue curve is marginal revenue.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Our vision controls the way we think and, therefore, the way we act . . . The vision we have of our jobs determines what we do and the opportunities we see or don't see. " -- Charles Koch, executive
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LBO
Leveraged Buyout
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