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U.S. TREASURY DEPARTMENT: A cabinet level part of the U.S. Federal government responsible for assorted financial matters. While it was once heavily involved in what could be termed monetary policy, before the creation of the Federal Reserve System, it's primary money role in modern times is relegated to authorizing the minting of metal coins. Among its many varied and important functions are issuing U.S. Treasury securities to finance the federal deficit and maintaining the integrity of paper currency by tracking counterfeiters.
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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION A curve that graphically represents the relation between the marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because a monopolistically competitive firm is a price maker and faces a negatively-sloped demand curve, its marginal revenue curve is also negatively sloped and lies below its average revenue (and demand) curve. A monopolistically competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for the last item on a shelf.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"You miss 100% of the shots you never take. " -- Wayne Gretzky, hockey player
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NNP
Net National Product
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