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INDIRECT BUSINESS TAXES: The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. Indirect business taxes, abbreviated IBT, is generally less than 10% of gross domestic product (7-8% is common).
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LONG-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the long run. The central characteristic of long-run production analysis is that all inputs under the control of the firm are variable. The central principle guiding production in the long run is returns to scale, which indicates how production responds to proportional changes in all inputs. A contrasting analysis is short-run production analysis.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for celebrities who speak directly to you through your television.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life." -- Victor Hugo, Writer
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MSE
Mean Square Error
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