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INDETERMINANT: The term commonly used to indicate that the direction of the change in either price or quantity is not known when the market experiences simultaneous shifts in both the demand and supply curves. For example, an increase in both demand and supply definitely increases the quantity exchanged. But whether the market price increases or decreases is indeterminant.
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IMPORT QUOTAS Quantity restrictions imposed by the government of one nation on imports from other nations. The primary goal of import quotas is to reduce imports and increase domestic production. Because the quantity of imports is restricted, the price of imports increases, which thus encourages domestic consumers to buy more domestic production. Import quotas are one of three common foreign trade policies designed to discourage imports and/or encourage exports. The other two are tariffs and export subsidies.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"It is the mark of an educated mind to be able to entertain a thought without accepting it." -- Aristotle
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OLS
Ordinary Least Squares
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