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GOLDSMITH MONEY CREATION: An illustration of the basic money creation process undertaken by banks using the hypothetical activities of a hypothetical goldsmith. The goldsmith profession of Medieval Europe provides insight into the modern banking business, including the seemingly magical ability of banks to create valuable money out of inputs with significantly less value.
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MARGINAL PRODUCT The change in the quantity of total product resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal product, usually abbreviated MP, is found by dividing the change in total product by the change in the variable input. Marginal product, which occasionally goes by the alias marginal physical product (MPP), is one of two measures derived from total product. The other is average product.
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A Careful View Of WORKER SAFETYIt was THE most exciting baseball game in the long rivalry between the Shady Valley Primadonnas and the Oak Town Sludge Puppies. Two out, two on, the bottom of the ninth, the home team down by a run, and Harold "Hair Doo" Dueterman -- the Primadonnas' star center fielder -- up to bat. What excitement. What drama. Unfortunately Hair Doo hit the ball directly at the Primadonnas' runner on first. A line shot to the head. The runner was out. He was also unconscious. Game over. That was not the end to the excitement, though. Chucky Calhoun, the peanut vendor, was inadvertently decked by an enthusiastic fan and suffered a number of injuries as he tumbled down some concrete steps. Chucky, who has made repeated complaints to the Primadonnas owner (D. J. Goodluck) about unsafe working conditions, has filed a workers' compensation claim. What a mess. Too bad Hair Doo just didn't strike out like he usually does.
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ORANGE REBELOON
[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 handcrafted spice rack or a cell phone case. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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MR
Marginal Revenue
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