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MACROECONOMIC PROBLEMS: Undesirable situations that exist in the macroeconomy, largely because one or more of the macroeconomic goals are not satisfactorily attained. The primary problems are unemployment, inflation, and stagnant growth. Macroeconomic theories are designed to explain why these problems emerge and to recommend corrective policies.
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SLOPE, PRODUCTION POSSIBILITIES CURVE The numerical value of the slope of the production possibilities curve, which illustrates the alternative combinations of two goods that an economy can produce with given resources and technology, is the opportunity cost of producing the good measured on the horizontal axis.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for the last item on a shelf.
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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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"One worthwhile task carried to a successful conclusion is worth half-a-hundred half-finished tasks. " -- Malcolm S. Forbes, publisher
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MRP
Marginal Revenue Product
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