Google
Tuesday 
April 13, 2021 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
KEMP-ROTH ACT: Officially titled the Economic Recovery Tax Act of 1981, this was a cornerstone of economic policy under President Reagan. The three components of this act were: (1) a decrease in individual income taxes, phased in over three years, (2) a decrease in business taxes, primarily through changes in capital depreciation, and (3) the indexing of taxes to inflation, which was implemented in 1985. This act was intended to address the stagflation problems of high unemployment and high inflation that existed during that 1970s and to provide greater incentives for investment. A primary theoretical justification is found in the Laffer curve relation between tax rates and total tax collections.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

CONSTANT-COST INDUSTRY: A perfectly competitive industry with a flat, or perfectly elastic long-run industry supply curve that results because expansion of the industry has no affect on production cost or resource prices. For a constant-cost industry the entry of new firms, prompted by an increase in demand, has no affect on the long-run average cost curve of each firm nor its minimum efficient scale of production.

     See also | perfect competition | supply | supply curve | industry | demand increase | minimum efficient scale | production cost | resource prices | economies of scale | increasing-cost industry | decreasing-cost industry |


Recommended Citation:

CONSTANT-COST INDUSTRY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: April 13, 2021].


AmosWEB Encyclonomic WEB*pedia:

Additional information on this term can be found at:

WEB*pedia: constant-cost industry

Search Again?

Back to the GLOSS*arama

AGGREGATE EXPENDITURES

The total expenditures on gross domestic product undertaken in a given time period by the four sectors--household, business, government, and foreign. Expenditures made by each of these sectors are commonly termed consumption expenditures, investment expenditures, government purchases, and net exports. Aggregate expenditures (AE) are a cornerstone in the study of macroeconomics, playing critical roles in Keynesian economics, aggregate market analysis, and to a lesser degree, monetarism. In particular, aggregate expenditures are combined with the price level as aggregate demand.

Complete Entry | Visit the WEB*pedia


APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for celebrities who speak directly to you through your television.
Your Complete Scope

This isn't me! What am I?

The average bank teller loses about $250 every year.
"Education is the ability to listen to almost anything without losing your temper or your self-confidence. "

-- Robert Frost

MGF
Moment Generating Function
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2021 AmosWEB*LLC
Send comments or questions to: WebMaster