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RENTAL INCOME OF PERSONS: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring rent earned by the household sector for supplying land and related services. This is one of five official factor payments making up national income. The other four are compensation of employees, net interest, corporate profits, and proprietors' income. Rental income of persons is typically the smallest of the five factor payment categories, usually less than 5% of national income.
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AVERAGE REVENUE, PERFECT COMPETITION The revenue received for selling a good per unit of output sold, found by dividing total revenue by the quantity of output. Average revenue often goes by a simpler and more widely used term... price. For a perfectly competitive firm average revenue is also equal to marginal revenue. Average revenue for a perfectly competitive firm is often depicted by a horizontal average revenue curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. 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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Al Capone's business card said he was a used furniture dealer.
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"Learning is not compulsory, but neither is survival. " -- W. Edwards Deming, management consultant
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AEA
American Economic Association
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