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December 14, 2018 

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APP: The abbreviation of average physical product, which is the quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average physical product is actually just another name for average product (AP). But don't be confused by the extra term (physical).

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Lesson 13: Aggregate Demand | Unit 4: Determinants Page: 18 of 22

Topic: Shifts: Decrease <=PAGE BACK | PAGE NEXT=>

The aggregate demand determinants cause the aggregate demand curve to shift. A decrease in aggregate demand shifts the aggregate demand curve to the left.

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UNEMPLOYMENT, PRODUCTION POSSIBILITIES

Unemployment is the condition that exists when some available resources are NOT engaged in the production of goods and services. In other words, some resources that could be used for production are not being used. This is indicated in production possibilities analysis by producing a combination of goods that places the economy inside the production possibilities curve.

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APLS

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Today, you are likely to spend a great deal of time at an auction looking to buy either a wall poster commemorating the moon landing or storage boxes for your winter clothes. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
"In order to create there must be a dynamic force, and what force is more potent than love."

-- Igor Stravinsky, violinist

DBD
Declining Balance Depreciation
A PEDestrian's Guide
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