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GENERAL AGREEMENT ON TARIFFS AND TRADE: A treaty, signed in 1947 by 23 countries including the United States, that was designed to reduce trade barriers. It now carries the signatures of about 100 countries and over the years has been pretty darn effective in reducing tariffs, eliminating some import quotas, and promoting commerce.
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TOTAL VARIABLE COST Cost of production that does change with changes in the quantity of output produced by a firm in the short run. Total variable cost is one part of total cost. The other is total fixed cost. Variable cost depends on the level of output. If a firm produces more output, then variable cost is greater. If a firm produces no output, then variable cost is zero. A cost measure directly related to total variable cost is average variable cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for malfunctioning pocket calculators.
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Never let the fear of striking out get in your way. " -- Babe Ruth, baseball player
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AAO
Authorized Acquisition Objective
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