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FEDERAL HOME LOAN BANK: This was originally the federal government entity responsible for chartering and regulating savings and loan associations. However, it has evolved into a group of 12 privately owned, government regulated banks that promote community develop and home ownership by providing funds to lending agencies (that is, banks) that are used for home mortgage loans.
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AVERAGE FACTOR COST, MONOPSONY Total factor cost per unit of factor input employed by a monopsony in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a revolving spice rack or a how-to book on home repairs. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened. " -- Winston Churchill, British statesman
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IIA
Irrelevance of Independent Alternatives
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