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APP: The abbreviation of average physical product, which is the quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average physical product is actually just another name for average product (AP). But don't be confused by the extra term (physical).
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PERSONAL INCOME AND NATIONAL INCOME Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production, which may or may not be received by members of the household sector. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).
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GRAY SKITTERY
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Today, you are likely to spend a great deal of time at an auction looking to buy either an instructional DVD on learning to the play the oboe or a small, foam rubber football. Be on the lookout for broken fingernail clippers.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"He who has a „why¾ to live can bear with almost any „how."" -- Friedrich Nietzsche, Philosopher
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L/C
Letter of Credit
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