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July 19, 2018 

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PERFECTLY INELASTIC: An elasticity alternative in which changes in price do NOT cause any change in quantity. In other words, quantity is totally, completely unresponsive to price. Quantity just does not change, regardless of changes in price. Perfectly inelastic should be compared with other elasticity alternatives--perfectly elastic, relatively elastic, relatively inelastic, and unit elastic.

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LIMITED LIABILITY COMPANY: A relatively new legal firm type that operates very much like a partnership, but in which every owner has limited liability. The advantage of a limited liability company, over a limited partnership, is that every owner has limited liability. It also has advantages over an S corporation in that very few restrictions exist on who can be an owner.

     See also | partnership | limited liability | unlimited liability | S corporation | limited partnership | C corporation | corporation | legal types |


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LIMITED LIABILITY COMPANY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: July 19, 2018].


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PERSONAL TAXES

The common term for the portion of personal income used to pay personal tax and nontax payments. Personal tax and nontax payments is the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?

Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"After climbing a great hill, one finds many more hills to climb. "

-- Nelson Mandela, president of South Africa

LRTC
Long Run Total Cost
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