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PPI: The abbreviation for Producer Price Index, which is an index of the prices domestic producers receive from selling their output. THE Producer Price Index is actually one of several producer price indexes compiled and published monthly by the Bureau of Labor Statistics (BLS). THE Producer Price Index reported regularly in the media is actually the Producer Price Index for All Commodities. Other members in the family of producer price indexes include an array of broad, composite indexes (including finished consumer goods, capital goods, and crude materials); indexes that track the prices received by producers in virtually every major production industry in the country (including lumber, iron and steel, household furniture, and passenger cars); and price indexes for thousands of specific products. In total, the producer price index family includes well over 10,000 separate indexes.
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VARIABLE INPUT An input whose quantity can be changed in the time period under consideration. The most common example of a variable input is labor. Variable inputs provide the means used by a firm to control short-run production. The alternative to variable input is fixed input. A fixed input, like capital, provides the capacity constraint in production. As larger quantities of a variable input, like labor, are added to a fixed input like capital, the variable input becomes less productive, which is the law of diminishing marginal returns.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Never let the fear of striking out get in your way. " -- Babe Ruth
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AAT
Association of Accounting Technicians
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