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AGGREGATE PRODUCTION FUNCTION: A relation between the total production of real output for an economy and the amount of labor input. The aggregate production function is comparable to the standard production function used in the microeconomic analysis of firm behavior but is applied to the macroeconomic study of aggregate supply, resource markets, and employment. It is typically assumed to experience diminishing marginal returns, resulting in a decreasing marginal product of labor.
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UNEMPLOYED The condition in which a resource (especially labor) is NOT actively engaged in a productive activity, but IS actively seeking employment. This general condition forms the conceptual basis for one of the three categories used by the Bureau of Labor Statistics (BLS) when classifying an individual's labor force status--employed persons. The other two BLS categories are employed persons and not in the labor force.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"Wise men speak because they have something to say; Fools because they have to say something. " -- Plato, philosopher
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NYBID
New York Interbank Bid Rate
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