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VERY LONG RUN: A period of time in which all inputs in the production process are variable and the technology and assorted social institutions affecting production can change. You should compare very long run with long run and production, short run and production, and market period.
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GROSS DOMESTIC PRODUCT The total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually one year. This is the official measure of the aggregate output produced by the economy. It is tabulated and reported by the National Income and Product Accounts maintained by the Bureau of Economic Analysis, which is part of the U. S. Department of Commerce. Gross domestic product, often abbreviated simply as GDP, is one of several measures reported regularly (quarterly and annually) by the number crunchers at the Bureau of Economic Analysis. Other common measures include net domestic product, national income, personal income, and disposable income. GDP has replaced gross national product (GNP), in most official discussion of aggregate economic production.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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MR
Marginal Revenue
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