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S CORPORATION: A legal firm type that is officially structure as a corporation, especially with limited liability of the owners, but is able to avoid the double taxation of profits through the use of a special section of the Internal Revenue Service tax code (Chapter S). The profit of an S corporation is considered the income of its owners and is thus taxable only as individual income. There are, however, limits on who can be an owner of an S corporation.
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LONG-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the long run. The central characteristic of long-run production analysis is that all inputs under the control of the firm are variable. The central principle guiding production in the long run is returns to scale, which indicates how production responds to proportional changes in all inputs. A contrasting analysis is short-run production analysis.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store wanting to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Gravitation can not be held responsible for people falling in love." -- Albert Einstein
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TU
Total Utility
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