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HIGH-POWERED MONEY: Also termed the monetary base, the total of currency held by the nonbank public, vault cash held by banks, and Federal Reserve deposits of the banks. This contains the monetary components over which the Federal Reserve System has relatively complete control and is often used as a guide for the Fed's money control ability and monetary policy.
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LONG-RUN TOTAL COST The opportunity cost incurred by all of the factors of production used in the long run (when all inputs are variable) by a firm to produce a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit earned by entrepreneurs. Unlike short-run total cost, long-run total cost cannot be separated into fixed cost and variable cost. In the long run, all inputs are variable, so all cost is variable.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a flea market looking to buy either a genuine down-filled snow parka or throw pillows for your living room sofa. Be on the lookout for attractive cable television service repair people.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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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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OAS
Organization of American States
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