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LABOR MARKET: A market that exchanges the services of labor resources. For the macroeconomy, this is a critical aspect of the aggregate resource markets, especially the short-run condition of rigid prices. Labor market wages tend to be rigid in short run. Such wage rigidity, was well as other short run problems, prevent labor markets from achieve equilibrium. The result is either unemployment or overemployment, both of which prevent long-run equilibrium in the aggregate market.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost 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 several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for a thesaurus filled with typos.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"All things are difficult before they are easy." -- Thomas Fuller, Physician
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EBC
Electronic Business Communications
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