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BALANCED BUDGET: An equality between the revenues and expenditures that constitute a budget. The notion of a budget is most important for governments, where revenues are taxes and expenditures are assorted public goods, administrative expenses, etc. While the federal government has been notorious for its failure to maintain a balanced budget, except for periods of unexpected prosperity, many state and local governments are very good at this sort of thing.
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MARGINAL REVENUE PRODUCT The change in total revenue resulting from a unit change in a variable input, keeping all other inputs unchanged. Marginal revenue product, usually abbreviated MRP, is found by dividing the change in total revenue by the change in the variable input or by multiplying marginal physical product by marginal revenue. This is also termed value of the marginal product. Marginal revenue product is a key concept for understanding the demand for productive inputs.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Do not stop thinking of life as an adventure. You have no security unless you can live bravely, excitingly, imaginatively, unless you can choose a challenge instead of a competence. " -- Eleanor Roosevelt, first lady
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VSE
Vancouver Stock Exchange (Canada)
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