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MACROECONOMY: The aggregate, or national economy that is the prime focus of the study of macroeconomics.
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MARGINAL FACTOR COST CURVE A curve that graphically represents the relation between marginal factor cost incurred by a firm for hiring an input and the quantity of input employed. A profit-maximizing firm hires the quantity of input found at the intersection of the marginal factor cost curve and marginal revenue product curve. The marginal factor cost curve for a firm with no market control is horizontal. The marginal factor cost curve for a firm with market control is positively sloped and lies above the average factor cost curve.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for malfunctioning pocket calculators.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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PV
Present Value
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