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PREMIUM: In financial terms, a bond or similar financial asset that sells above its face value. A premium is paid to equalize a bond's interest rate with comparable interest rates. For example, a $100,000 bond that pays a fixed 10 percent interest on the face value ($10,000) would be sell at a premium of $125,000 if comparable interest rates were 8 percent. As such, the $10,000 interest works out to be 8 percent of the $125,000 price.

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MACRO GOALS: The three goals of a mixed economy that are most relevant to the study of macroeconomics are full employment, stability, and economic growth. Full employment is the condition in which all of the economy's available resources are engaged in the production of goods and services. Stability is the condition in which the economy avoids large changes in production, employment, and especially prices. Economic growth is the condition in which the economy's production possibilities are expanding over time.

     See also | economic goals | micro goals | mixed economy | macroeconomics | full employment | stability | economic growth | price stability | unemployment | unemployment rate | natural unemployment rate | gross domestic product | employment | price level | inflation | business cycle | production possibilities | growth rate |


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MARGINAL REVENUE, MONOPOLY

The change in total revenue resulting from a change in the quantity of output sold. Marginal revenue indicates how much extra revenue a monopoly receives for selling an extra unit of output. It is found by dividing the change in total revenue by the change in the quantity of output. Marginal revenue is the slope of the total revenue curve and is one of two revenue concepts derived from total revenue. The other is average revenue. To maximize profit, a monopoly equates marginal revenue and marginal cost.

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Today, you are likely to spend a great deal of time lost in your local discount super center hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. "

-- Henry David Thoreau, philosopher

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