|
|
WEALTH OF NATIONS, THE: Officially titled "An Inquiry into the Nature and Causes of the Wealth of Nations", this book written by Adam Smith and published in 1776, is considered to be the foundation for the modern study of economics. The Wealth of Nations was the first to combine assorted economic discourse and analyses into a single book. One of its most important themes is the efficiency of free trade and market exchanges unrestricted by government that leads to macroeconomic full employment and microeconomic efficiency. The Wealth of Nations is one of the most famous books worldwide. It continues to provide economic insight over two hundred years after its initial appearance.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 3: Scarcity | Unit 4: College Cost
|
Page: 14 of 17
|
- The opportunity cost of a college education.
- Why explicit, out-of-pocket payments are only part of the opportunity cost of an education.
- The importance of implicit opportunity costs, such as foregone earnings or foregone satisfaction, to the total cost of an education.
- Why some college costs, such as room and board, are not opportunity costs or an education.
|
|
|
|
|
|
|
AGGREGATE EXPENDITURES EQUATION An equation that summarizes the four aggregate expenditures on gross domestic product by the four macroeconomic sectors. In the study of Keynesian economics, this equation is commonly used to summarize the demand side of the macroeconomy. The aggregate expenditures equation actually comes in three different versions depending on how many of the four sectors and their expenditures are included.
Complete Entry | Visit the WEB*pedia |
|
|
|
The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
|
|
|
"Follow effective action with quiet reflection. From the quiet reflection will come even more effective action. " -- Peter F. Drucker, author
|
|
ABA
American Bankers Association, Associate in Business Administration
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
