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MARGINAL REVENUE, MONOPOLY: The change in total revenue received by a monopoly resulting from a change in the quantity of output sold. For a monopoly firm, marginal revenue is less than the price.
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UNDERGROUND ECONOMY Illegal and unreported market transactions and productive activity that escape the watchful eyes of official record keepers. By most estimates, a substantial amount of productive activity takes place in the underground economy of the United States. Of course, these are only estimates because such activity, by definition, goes unreported. If activity in the underground economy is added to official activity in the "overground" economy, then gross domestic product could be boosted by as much as 25 percent to 50 percent, or more. Inclusion of employment in the underground economy is also likely reduce the official unemployment rate by a few percentage points.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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IIPF
International Institute of Public Finance
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