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August 21, 2017 

AmosWEB means Economics with a Touch of Whimsy!

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TOBIN'S Q: A financial measure of a firm's returns, calculated by dividing the market value of the firm (that is, the market value of its outstanding stock and debt) by the replacement costs of the firm's assets. According to James Tobin of Yale University, Nobel Laureate in Economics in 1981, if this ratio is greater than 1 it means that the firm is earning a rate of return higher than that justified by the costs of its assets. That is, Tobin suggested that the ratio of the market value of a firm to the replacement costs of its assets should be close to 1.

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GRAY SKITTERY
Your compete MICRO*scope for today

You are the type of person who wants nothing more than to hit the "pause button" on your hectic life, just for a few moments, just so you can catch your breath, just a moment or two of tranquility, just so you can sort out the options. Family and friends remove all caffeinated drinks and food products from their homes when you come to visit. Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for gnomes hiding in cypress trees. You should consider shopping at stores or businesses beginning with the letter A, but do not buy any products with a serial number or product code containing the number 902519. Your preferred shopping venue is mail order catalogs. Your special symbol is the question mark (?).


Is this You?

As a Gray Skittery, you are ambivalent, indecisive, and uncertain. You are in a constant struggle between the forces of demand and supply, production and consumption, good and evil... and you're losing the battle. You have trouble making decisions and choosing from among the seemingly infinite number of options that you perpetually face. Your shopping experiences are inevitably confusing.


This isn't me! What am I?
AVERAGE VARIABLE COST CURVE

A curve that graphically represents the relation between average variable cost incurred by a firm in the short-run product of a good or service and the quantity produced. This curve is constructed to capture the relation between average variable cost and the level of output, holding other variables, like technology and resource prices, constant. The average variable cost curve is one of three average curves. The other two are average total cost curve and average fixed cost curve. A related curve is the marginal cost curve.

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Planning On SOCIAL SECURITY?

This may be the greatest day of my life. The musical group to top all musical groups -- The Strollers -- has just released its latest CD with a song that's certain to be a foot-tapping classical. Of course, you know the song of which I speak -- "Sidewalking." Let's stop into the Musical Sound CD Emporium in the Shady Valley Central Town Sprawling Hills Shopping Mall and fulfill my dreams. Everyone in Shady Valley, however, does not share my joy. As the seventeen year old Emporium clerk, Alicia Hyfield, completes my transaction, she confesses more than a bit of disgruntlement over here just-issued paycheck. A little investigation reveals some displeasure with the size of the FICA deduction. Her disgruntlement isn't lessened to know that this is for the government's social security program that's suppose to provide a source of income in her golden years. She seems more than a bit skeptical of ever seeing any returns. Maybe we can alleviate her concerns (and mine) with a quick run through social security.
Tell me more...

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APLS

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Success is going from failure to failure without a loss of enthusiasm. "

-- Winston Churchill, British statesman

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