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RECYCLING: The use or reuse of previously extracted materials, waste products, or finished goods as inputs in the production process rather than using newly extracted natural resources. Recycling is one method of controlling pollution. Many types of resources are commonly recycled. For consumers, aluminum and newspapers are commonly recycled products. Producers frequently recycle steel and iron. In these cases, recycled materials augment the market supply. They also prevent the return of residuals to the environment.
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NET-EXPORT EFFECT A change in aggregate expenditures on real production, especially net exports from the foreign sector, that results because a change in the price level alters the relative prices of exports and imports. The net-export effect, also termed the international-substitution effect, is one of three effects underlying the negative slope of the aggregate demand curve associated with a movement along the aggregate demand curve and a change in aggregate expenditures. The other two are real-balance effect and interest-rate effect. The net-export effect is somewhat analogous to the substitution effect underlying the negative slope of the market demand curve.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"A leader, once convinced that a particular course of action is the right one, must . . . be undaunted when the going gets tough." -- President Ronald Reagan
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MRP
Marginal Revenue Product
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