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UNEMPLOYMENT RATE: The proportion of the civilian labor force 16 years or older that is actively seeking employment, but is unemployed and not engaged in the production of goods and services. The unemployment rate is estimated and reported monthly by the U.S. Department of Labor's Bureau of Labor Statistics. It is used not only as the prime measure of labor unemployment in the economy, but also as a key indicator of business-cycle instability. In principle, the unemployment rate measures the proportion of the labor that is willing and able to work, but employed. In practice, the official unemployment rate is simply the ratio of total unemployment to the total civilian labor force, in percentage terms.
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Lesson 16: Perfect Competition | Unit 3: Doing Graphs
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Page: 16 of 28
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Topic:
Short-Run Alternatives
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- The three alternatives for short-run production facing a perfectly competitive firm are:
- P > ATC: Total revenue exceeds total cost and the firm receives a positive economic profit. In this case, a firm maximizes profit by producing the quantity of output that equates marginal revenue and marginal cost.
- ATC < P > AVC: Total revenue falls short of total cost, meaning the firm incurs an economic loss (or negative economic profit). In spite of the loss, because the price exceeds average variable cost, the firm can maximize profit (minimize loss) by producing the quantity of output that equates marginal revenue and marginal cost.
- P < AVC: Total revenue also falls short of total cost, and the firm incurs an economic loss (or negative economic profit). In this case the firm maximizes profit (that is, minimizes loss) by reducing the quantity of output to zero.
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NET PRIVATE DOMESTIC INVESTMENT Expenditures on capital goods to be used for productive activities in the domestic economy that are undertaken by the business sector during a given time period, after deducting capital depreciation. This is the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring net capital investment expenditures. More specifically net private domestic investment is found by subtracting the capital consumption adjustment from gross private domestic investment. Its primary function is to measure the net increase in the capital stock resulting from investment.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a small, foam rubber football or an instructional DVD on learning to the play the oboe. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
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NASDAQ
National Assocation of Securities Dealers Automated Quote System
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