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PERFECT COMPETITION, LOSS MINIMIZATION: A perfectly competitive firm is presumed to produce the quantity of output that minimizes economic losses, if price is greater than average variable cost but less than average total cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and shutdown (if price is less than average variable cost).
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FEDERAL DEFICIT, AGGREGATE DEMAND DETERMINANT One of several specific aggregate demand determinants assumed constant when the aggregate demand curve is constructed, and that shifts the aggregate demand curve when it changes. An increase in the federal deficit causes an increase (rightward shift) of the aggregate curve. A decrease in the federal deficit causes a decrease (leftward shift) of the aggregate curve. Other notable aggregate demand determinants are interest rates, inflationary expectations, and the money supply.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for vindictive digital clocks with revenge on their minds.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"The moment you let avoiding failure become your motivator, you're down the path of inactivity. " -- Roberto Goizueta, Coca-Cola CEO
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GARCH
Generalized Autoregressive Conditional Heteroskedasticity
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