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DEPRECIATION, CURRENCY: The declining value of one currency, in terms of its ability to purchase goods and services. This is most often seen as a change in the exchange rate of the currency for the currencies of other nations.
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MARGINAL PRODUCT CURVE A curve that graphically illustrates the relation between marginal product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the incremental change in output at each level of a variable input. The marginal product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and average product curve. The marginal product curve plays in key role in the economic analysis of short-run production by a firm.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"You can't build a reputation on what you are going to do." -- Henry Ford, automaker
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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