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SPECIAL INTEREST GROUP: A group that has more to gain or lose from some candidate, issue, or policy and thus tries extra hard to ensure that the political system is aware of their preferences. Some special interest groups can be fairly tame, merely voting in elections for their chosen candidate, while others are quite active. The more active ones form political action committees and undertake all forms of lobbying (legal and illegal). The ultimate success of special interest groups arises from the inclination of other people to choose rational ignorance and rational abstention.
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SHUTDOWN RULE A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for jovial bank tellers.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"If you don't have time to do it right, when will you have time to do it over?" -- John Wooden, Basketball coach
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AOM
Australian Options Market
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