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WHOLESALE PRICE INDEX: An index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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AVERAGE-MARGINAL RELATION A mathematical connection between a marginal value and the corresponding average value stating that the change in the average value depends on a comparison between the average and the marginal. This mathematical relation between average and marginal surfaces throughout the study of economics, especially production (average product and marginal product), cost (average total cost and marginal cost), and revenue (average revenue and marginal revenue). A similar relation is that between a total value and the corresponding marginal value.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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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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"Don't be afraid if things seem difficult in the beginning. That's only the initial impression. The important thing is not to retreat; you have to master yourself." -- Olga Korbut, Gymnast
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ANOVA
Analysis of Variance
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