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VERY LONG RUN, MICROECONOMICS: A production time period in which all inputs are variable, including those under control of the firm and those beyond the control of the firm. During the very long run, not only are the labor, capital, land, and entrepreneurship inputs variable, but so too are key production inputs such as government rules, technology, and social customs. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very short run.
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COMPENSATION OF EMPLOYEES The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring wages earned by the household sector for supplying labor services. This is one of five official factor payments making up national income. The other four are net interest, rental income of persons, corporate profits, and proprietors' income. Compensation of employees is far and away the largest of the five factor payments, typically running about 70 percent of national income.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for cardboard boxes.
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Sixty percent of big-firm executives said the cover letter is as important or more important than the resume itself when you're looking for a new job
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"The greater danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it." -- Michelangelo Buonarroti, Painter and Sculptor
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ISIC
International Standard Industrial Classification
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