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REVALUATION: The act of increasing the price (exchange rate) of one nation's currency in terms of other currencies. This is done by the government if it wants to raise the price of the country's exports and lower the price of foreign imports. This is an appropriate action if the country is running an undesired trade surplus with other countries. The procedure for revaluation is for the government to buy the nation's currency and/or sell foreign currencies through the foreign exchange market.
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PERFECT COMPETITION, FACTOR MARKET ANALYSIS The analysis of a factor market characterized by perfect competition indicates that each buyer maximizes profit by equating marginal revenue product to the factor price. This achieves an efficient allocation of resources and provides a benchmark for analyzing other factor market structures, including monopsony, monopoly, and bilateral monopoly.
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PINK FADFLY
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Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a large green chalkboard shaped like the state of Maine or a replacement battery for your pocket calculator. Be on the lookout for celebrities who speak directly to you through your television.
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A half gallon milk jug holds about $50 in pennies.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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Quantitative Restriction
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