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EUROPEAN UNION: The economical and political integration of a dozen European nations created by the Maastricht Treaty signed in 1992. The twelve nations forming the European Union (commonly abbreviated EU) are Belgium, Denmark, Greece, Germany, Spain, France, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Great Britain. Three additional nations that have joined the original dozen are Austria, Finland and Sweden. The Economic Union was actually one of several steps by European nations after the end of World War II to promote integration. This Economic Union was established to reduce or eliminate many tariffs and nontariff barriers, create a single monetary unit (the euro), establish of a common military and defense policy, and centralize monetary policy.
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AVERAGE FIXED COST CURVE A curve that graphically represents the relation between average fixed cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average fixed cost and the level of output, holding other variables, like technology and resource prices, constant. The average fixed cost curve is one of three average curves. The other two are average total cost curve and average variable cost curve. A related curve is the marginal cost curve.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for telephone calls from former employers.
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Now is the only time there is. Make your now wow, your minutes miracles, and your days pay. Your life will have been magnificently lived and invested, and when you die you will have made a difference." -- Mark Victor Hansen
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