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NATIONAL BUREAU OF ECONOMIC RESEARCH: A private, nonprofit, nonpartisan organization established in 1920 that promotes research into, and an understanding of, the workings of the economy. In addition to a relative small in-house staff (a few dozen), the National Bureau of Economic Research (NBER) includes several hundred of the best and the brightest economic professors at major universities as NBER researchers. At last count, a dozen Nobel Prize winners have included the title of NBER researcher on their resumes. The NBER sponsors research on assorted topics, including the development of quantitative economic measures and the analysis of public policies.
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FACTOR MARKET ANALYSIS An analysis of the structure and equilibrium determination of markets that exchange the services of productive resources. This analysis highlights principles and concepts that tend to be most commonly associated with factor markets (also termed resource markets), including monopsony and bilateral monopoly. Marginal revenue product is a key concept on the demand side of the factor market. Marginal factor cost is a key concept on the supply side of the factor market.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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John Maynard Keynes was born the same year Karl Marx died.
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"The two most powerful warriors are patience and time. " -- Leo Tolstoy, author
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Income, Nominal Gross National Product
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