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INPUT: The resources or factors of production used in the production of a firm's output. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. In the short run, the quantity of a fixed input can not be changed, meaning it can not be used to expand output. In contrast, a variable input can be changed, making it THE means of expanding output in the short run.
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PERSONAL INCOME The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income (PI) is one of three measures of income reported in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are national income (NI) and disposable income (DI). Two related measures of production are gross domestic product (GDP) and net domestic product (NDP). The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"The art of leadership is saying no, not yes. It is very easy to say yes. " -- Tony Blair, British prime minister
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NLLS
Nonlinear Least Squares
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