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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 4: Production Possibilities | Unit 5: Investment Page: 20 of 24

Topic: Bundle Choices: A <=PAGE BACK | PAGE NEXT=>

Let's consider a few alternatives. If we select bundle A (450 jogging shoes and 0 calibrators), then we are not adding to the quantity of capital. If we are not expanding the quantity of our capital, then our fixed resources remain fixed and the production possibilities curve remains unchanged.
  • As such, tomorrow's production possibilities curve will look just like today's curve. There will be no growth and no shift in the curve.

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BALANCE OF TRADE DEFICIT

The negative difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade deficit is the official term for negative net exports that occurs when imports exceed exports. A balance of trade deficit is also termed an "unfavorable" balance of trade because it results in a net outflow of monetary payments from the domestic economic to the foreign sector, which tends to be bad for a country. The alternative is a balance of trade surplus in which exports exceed imports.

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APLS

BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a how-to book on home repairs or a large, stuffed kitty cat. Be on the lookout for broken fingernail clippers.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing."

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AR
Average Revenue, Autoregressive
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