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PAYROLL TAX: A tax levied on the wage earnings, or payroll, of workers. The most notable, if nothing else in terms of sheer dollar amount, is the Social Security tax.

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GROSS DOMESTIC PRODUCT, EXPENDITURES: A method of estimating gross domestic product (GDP) based on identifying the aggregate expenditures (consumption, investment, government purchases, and net exports) made by the four basic macroeconomic sectors (household, business, government, and foreign). This is one of two methods used by the Bureau of Economic Analysis in the National Income and Product Accounts to estimate gross domestic product.

     See also | gross domestic product | gross domestic product, income | Bureau of Economic Analysis | consumption expenditures | investment expenditures | government purchases | net exports | household sector | business sector | government sector | foreign sector |


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GROSS DOMESTIC PRODUCT, EXPENDITURES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 16, 2018].


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INCREASING RETURNS TO SCALE

A given proportional change in all resources in the long run results in a proportional greater change in production. Increasing returns to scale exists if a firm increases ALL resources--labor, capital, and other inputs--by a given proportion (say 10 percent) and output increases by more than this proportion (that is more than 10 percent). This is one of three returns to scale. The other two are decreasing returns to scale and constant returns to scale.

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BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time at an auction hoping to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
"The only thing that will stop you from fulfilling your dreams is you. "

-- Tom Bradley, former Los Angeles mayor

LRMC
Long Run Marginal Cost
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