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HYPERINFLATION: Exceptionally high inflation rates. While there are no hard and fast guidelines, an annual inflation rate of 20 percent or more is likely to get you the hyperinflation title. Some countries in the past have been quite good at creating hyperinflation. An annual inflation rate of 1,000 percent has not been uncommon. On occasion, the trillion percent inflation rate mark has been achieved. (That is, something with a one dollar price tag in early January would have a one trillion dollar price in late December. We're talking serious hyperinflation.)
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AVERAGE PHYSICAL PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average product, which more often goes by the shorter name average product (AP), is one of two measures derived from total physical product. The other is marginal physical product.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for jovial bank tellers.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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ABE
Association of Business Executives
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