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WPI: The abbreviation for Wholesale Price Index, which is an index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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ABSOLUTE ADVANTAGE The general ability to produce more goods or services using fewer resources. A person or country has an absolute advantage in production largely due to superior technology or greater technical efficiency. A related, but contrasting concept is comparative advantage. Both terms are perhaps most important to the study of international trade, but also provide insight into other exchanges.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center wanting to buy either a flower arrangement for your aunt or a birthday greeting card for your uncle. Be on the lookout for cardboard boxes.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"Success is liking yourself, liking what you do, and liking how you do it." -- Maya Angelou, Poet and Author
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SMSA
Standard Metropolitan Statistical Area
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