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APC: The abbreviation for average propensity to consume, which is the proportion of income, usually measured as disposable income or national income, used for household consumption expenditures. It is found by dividing consumption by income. The average propensity to consume, abbreviated APC, most often pops up in discussions of Keynesian economics. The average propensity to consume is the average amount of total household income that is devoted consumption expenditures.
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AVERAGE REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a perfectly competitive firm's output.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for fairy dust that tastes like salt.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Be civil to all; sociable to many; familiar with few; friend to one; enemy to none. " -- Benjamin Franklin, statesman
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RPI
Retail Price Index
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