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TC: The abbreviation for total cost, which is the opportunity cost incurred by all of the factors of production used by a firm to produce of a good or service, including wages paid to labor, rent paid for the land, interest paid to capital owners, and a normal profit paid to entrepreneurs. Total cost is most important in the analysis a firm's short-run production decision and is frequently separated into total variable cost and total fixed cost.
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DOUBLE COINCIDENCE OF WANTS: The requirements of a barter exchange that each trader has want the other wants and wants what the other has. Because everyone doesn't necessarily want everything, the lack of double coincidence of wants is a major obstacle in barter exchanges, especially for complex, modern economies. While double coincidence of wants is also essential for exchanges involving money, it's such an inherent trait of money we don't think twice about it. By its very nature as a generally accepted medium of exchange, everyone WANTS money. See also | barter | barter exchange | barter economy | money | money functions | medium of exchange |
Recommended Citation:DOUBLE COINCIDENCE OF WANTS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: September 22, 2018].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: double coincidence of wants
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SIMPLE TAX MULTIPLIER A measure of the change in aggregate production caused by changes in a government taxes that shocks the macroeconomy, when consumption is the ONLY induced expenditure. The simple tax multiplier is the negative marginal propensity to consume times the inverse of one minus the marginal propensity to consume. A related multiplier is the simple expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous expenditure.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a travel case for you toothbrush or a looseleaf notebook binder. Be on the lookout for slow moving vehicles with darkened windows.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Always remember that striving and struggle precede success, even in the dictionary. " -- Sarah Ban Breathnach, writer
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FED
Federal Reserve
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