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C: The standard abbreviation for consumption expenditures by the household sector, especially when used in the study of macroeconomics. This abbreviation is most often seen in the consumption function, specified as C = a + bY, where Y stands for national income. It is also used for the aggregate expenditure equation, AE = C + I + G + (X - M), where I, G, and (X - M) represent expenditures by the other three macroeconomic sectors, business, government, and foreign.
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MARGINAL FACTOR COST, MONOPSONY The change in total factor cost resulting from a change in the quantity of factor input employed by a monopsony. Marginal factor cost, abbreviated MFC, indicates how total factor cost changes with the employment of one more input. It is found by dividing the change in total factor cost by the change in the quantity of input used. Marginal factor cost is compared with marginal revenue product to identify the profit-maximizing quantity of input to hire.
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Taming Our Beastly FEDERAL DEFICITIt's almost impossible to take a leisurely stroll around the economy without crashing headlong into the federal deficit. It doesn't take a microscope to see it bulging from the windows and doors of the Sylvester J. Peabody Federal Office Building as we pass by. It's a monstrous beast that seems to be growing by the minute. But is the federal deficit really as ghoulish and gruesome as drawn by political cartoonists? Should we make a detour of our pedestrian trek to avoid the beast? Considering it's size, is avoidance even possible. To answer these question, let's consider the pluses and minuses of our federal deficit.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for attractive cable television service repair people.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Habit is a cable; we weave a thread of it each day, and at last we cannot break it. " -- Horace Mann, educator
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RPI
Retail Price Index
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