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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.
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TOTAL PHYSICAL PRODUCT The total quantity of output produced by a firm for a given quantity of inputs. Total physical product is actually nothing more than total product. The insertion of the word "physical" merely keeps the phrase consistent with average physical product and marginal physical product, two terms useful in marginal-productivity theory and the analysis of factor demand.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a video camera with stop action features or one of those memory foam pillows. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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Lombard Street is London's equivalent of New York's Wall Street.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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GAB
General Agreements to Borrow
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