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LOCATION THEORY: A theoretical framework for studying the location decisions made of firms and households based on transportation cost and spatial differences in the accessibility of inputs and markets for outputs. Location theory, developed with noted contributions from August Losch, Alfred Weber, Johann von Thunen, Walter Christaller, and Walter Isard, explicitly considers the cost of transportation in the production and consumption choices made by firms and households. Location theory has been used to explain urban density, labor migration, and land use.

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MACROECONOMIC PROBLEMS

Undesirable situations that exist in the macroeconomy, largely because one or more of the macroeconomic goals are not satisfactorily attained. The primary problems are unemployment, inflation, and stagnant growth. Macroeconomic theories are designed to explain why these problems emerge and to recommend corrective policies.

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Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for cardboard boxes.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
"If you worried about falling off the bike, you'd never get on. "

-- Lance Armstrong, bicycle racer

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