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JOB VACANCY RATE: A simple little ratio of the number of job vacancies in our economy to the sum of employment and job vacancies. In essence, this measures the fraction of jobs in the economy that are open, but haven't been filled. To be included as an officially vacant job, employers must be actively searching to fill it with a warm body, by advertising in the paper, contacting employment offices, etc. Like the more common unemployment rate, the job vacancy rate is a useful indicator of the business cycle. When the economy is booming, the job vacancy rate is likely to be relatively high. A low rate signals a recession.
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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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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or a rechargeable battery for your cell phone. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"We tend to forget that happiness doesn't come as a result of getting something we don't have, but rather of recognizing and appreciating what we do have." -- Fredrick Koeing
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MSE
Mean Squared Error
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