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RETAINED EARNINGS: Officially termed undistributed corporate profits, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.
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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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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a lighted magnifying glass or a small, foam rubber football. Be on the lookout for slightly overweight pizza delivery guys.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Good plans shape good decisions. That's why good planning helps to make elusive dreams come true." -- Lester Bittle, Author
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AAXICO
American Air Export and Import Company
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