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PRICE FIXING: An agreement by two or more firms in an industry to charge the same price and avoid competing with each other. This is one of the methods businesses use to practice collusion or form a cartel. It is, by the way, against antitrust law.
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POTENTIAL REAL GROSS DOMESTIC PRODUCT The total real output (real gross domestic product) that the economy can produce if resources are fully employed. In theory this means that the economy is operating ON the production possibilities frontier. Full employment is generally indicated by achieving what is termed the natural unemployment rate. If the economy is at full employment then actual real gross domestic product is equal to potential real gross domestic product and the actual unemployment rate is equal to the natural unemployment rate. The macroeconomy is thus living up to its potential.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for cardboard boxes.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"Difficulties mastered are opportunities won. " -- Winston Churchill, Statesman
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AR
Average Revenue, Autoregressive
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