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NET EXPORTS LINE: The graphical depiction of the relation between net exports and national income (or gross domestic product) that plays a role in Keynesian economics and the Keynesian cross. The net exports line is derived by combining the exports line, relating exports and national income, with the imports line, relating imports and national income. Because exports are largely independent of national income and imports (which are subtracted from exports) increase with national income, the net exports line has a negative slope. The slope of the net exports line is thus the negative of the marginal propensity to import. The aggregate expenditures line used in the Keynesian cross is obtained by adding this net exports line, as well as, government purchases and net exports, to the consumption line. The government purchases line is also combined with investment expenditures for the Keynesian saving-investment model.
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TOTAL FIXED COST Cost of production that does NOT change with changes in the quantity of output produced by a firm in the short run. Total fixed cost is one part of total cost. The other is total variable cost. At any and all levels of output, fixed cost is the same. It includes cost that is not dependent on, or is unrelated to, production. The best way to identify fixed cost is to produce zero output. Fixed cost is incurred whether or not any output is produced. A cost measure directly related to total fixed cost is average fixed cost.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for letters from the Internal Revenue Service.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored." -- Earl Nightingale
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TOCOM
Tokyo Commodity Exchange (Japan)
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