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ENDOGENOUS VARIABLE: A variable that is identified within the workings of the model. Also termed a dependent variable, an endogenous variable is in essence the "output" of the model. It should be compared with an exogenous variable this is the "input" of the model.
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AVERAGE PHYSICAL PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average product, which more often goes by the shorter name average product (AP), is one of two measures derived from total physical product. The other is marginal physical product.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway trying to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for small children selling products door-to-door.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Live in such a way that you would not be ashamed to sell your parrot to the town gossip." -- Will Rogers
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CPI-U
Consumer Price Index-All Urban Consumers
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