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NET DOMESTIC PRODUCT AND NATIONAL INCOME: Net domestic product (NDP) is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production of final goods and services during a given period of time, usually one year. The five main differences between net domestic product and national income are (1) indirect business taxes, (2) business transfer payments, (3) net foreign factor income, (4) government subsidies, and (5) statistical discrepancy.
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AVERAGE REVENUE CURVE, MONOPOLY A curve that graphically represents the relation between average revenue received by a monopoly 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 monopoly's output.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for slightly overweight pizza delivery guys.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"A ship ought not to be held by one anchor, nor life by a single hope. " -- Epictetus, philosopher
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MTN
Multilateral Trade Negotiations
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