
HOMOGENEOUS OF DEGREE N: A property of an equation the exists if independent variables are increased by a constant value, then the dependent variable is increased by the value raised to the power of n. The value of n can be greater than, less than, or equal to one. This property often surfaces in the analysis of production functions. If n = 1, then a doubling independent variables results in a doubling of the dependent variable and the production function has constant returns to scale. If n > 1, then a doubling independent variables results in more than a doubling of the dependent variable and the production function has increasing returns to scale. If n < 1, then a doubling independent variables results in less than a doubling of the dependent variable and the production function has decreasing returns to scale.
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PRICE STABILITY The condition in which the average price level in the economy changes very slowly, if at all. This is a key part of the macroeconomic goal of stability. Price stability is commonly indicated by the inflation rate, calculated as percentage change in either the Consumer Price Index (CPI) or the GDP price deflator. Price stability is generally achieved by the ABSENCE of large or rapid increases or decreases in the price level.
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PINK FADFLY [What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for bottles of barbeque sauce that act TOO innocent. Your Complete Scope
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.


"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. "  Pablo Picasso, artist


ACIR Advisory Council on Intergovernmental Relations


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