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FLOATING EXCHANGE RATE: An exchange rate determined through the unrestricted interaction of supply and demand in the foreign exchange market. A floating exchange rate means that a nation's government is NOT trying to manipulate currency prices to achieve some change in the exports or imports.
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Lesson 14: Production | Unit 2: Production Measures
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Page: 8 of 25
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Topic:
Marginal Product
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- A definition of marginal product:
- Marginal product is the change in the quantity of total product resulting from a unit change in a variable input, keeping all other inputs unchanged.
- Marginal product shows how much total product changes when one additional worker is added to the product process.
- It is found by dividing the change in total product by the change in the variable input and is calculated using this formula:
| marginal product (MP) | = | change in total product
change in variable input |
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AMERICAN ASSOCIATION FOR THE ADVANCEMENT OF SCIENCE A scientific society whose main mission is to advance science and innovation throughout the world. The American Association for the Advancement of Science (AAAS for short) publishes one of the most respected scientific magazines called Science. The association and magazine have nearly 140,000 individual and institutional subscribers, plus 272 affiliated organizations in more than 130 countries, serving a total of 10 million individuals. The American Association for the Advancement of Science was founded in 1848 to represent all disciplines of science and to support scientific exchange and discussion of science and society issues.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"It is not the straining for great things that is most effective; it is the doing of the little things, the common duties, a little better and better." -- Elizabeth Stuart Phelps, Writer
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VIR
Variable Interest Rate
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