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POLICIES: Government actions designed to affect economic activity and pursue one or more economic goals. Also called government or economic policies. The four common types of policies are: fiscal, monetary, regulatory, and judicial.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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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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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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GNP
Gross National Product
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