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BUREAU OF LABOR STATISTICS: An agency of the U.S. Federal government, specifically a branch of the U.S. Department of Labor, that compiles and reports a wide range of economic data and measurements. At the top of their list of important economic numbers maintained by what is abbreviated the BLS, are the unemployment rate (and related measures) and the Consumer Price Index (and related measures). Economists rely heavily on the BLS to provide data needed to evaluate and analyze the macroeconomy.
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Lesson 14: Production | Unit 6: Product Curves
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Page: 16 of 25
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In this unit, you should have learned about:- The TP curve as the graphical relation between total product values and variable input quantities.
- The AP curve as the graphical relation between average product values and variable input quantities.
- The MP curve as the graphical relation between marginal product values and variable input quantities.
- The connection between the law of diminishing marginal returns and the shapes of the total product, average product, and marginal product curves.
- The three stages of production characterized by the slopes of the total and marginal product curves.
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CONGLOMERATE MERGER The consolidation of two or more separately-owned businesses, operating in separate industries, into a single firm. This is one of three types of mergers. The other two are horizontal merger--two competing firms in the same industry that sell the same products--and vertical merger--two firms in different stages of the production of one good, such that the output of one business is the input of the other.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a coffee cup commemorating the first day of spring or a printer that works with your stockpile of ink cartridges. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Lord, where we are wrong, make us willing to change; where we are right, make us easy to live with. " -- Peter Marshall, US Senate chaplain
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AIBD
Association of International Bond Dealers (now called International Securities Market Association)
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