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DOMESTIC: Anything that has to do with activity within the boundaries of a nation. This should be directly contrasted with the term foreign, which refers to anything beyond the boundaries of a nation.
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AVERAGE TOTAL COST CURVE A curve that graphically represents the relation between average total cost incurred by a firm in the short-run product of a good or service and the quantity produced. The average total cost curve is constructed to capture the relation between average total cost and the level of output, holding other variables, like technology and resource prices, constant. The average total cost curve is one of three average curves. The other two are average variable cost curve and average fixed cost curve. A related curve is the marginal cost curve.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Nothing so conclusively proves a man's ability to lead others as what he does from day to day to lead himself." -- Thomas J. Watson, IBM founder
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ACV
Actual Cash Value
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