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LABOR FORCE: The total number of people willing and able to exert mental and/or physical efforts in productive activities. In principle, this is everyone 16 years of age and over who is willing and able to work. In practice, it includes the sum of anyone over 16 years who is employed or unemployed but actively seeking a job. The labor force is essentially a more technical term for the economy's labor supply.
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MARGINAL PHYSICAL PRODUCT The change in the quantity of total physical product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal physical product, usually abbreviated MPP, is found by dividing the change in total physical product by the change in the variable input. Marginal physical product, which more often goes by the name marginal product (MP), is one of two measures derived from total physical product. The other is average physical product.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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GLS
Generalized Least Squares
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