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July 11, 2025 

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X-INEFFICIENCY: Cost that is higher than it needs to be because a firm is operating inefficiently. This is most often seen for firms that have a great deal of market control, especially monopoly. The lack of competition allows a business to pad it's expenses, hire unneeded employees (like relatives), goof off instead of working, and all sorts of other things that lessen production and increase cost. The business is not penalized for these actions, because market control allows the company to extract whatever price is needed to cover cost.

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MONETARISM: A school of economic thought pioneered by Milton Friedman based on the central role of money in the macroeconomy and as a economic policy tool.

     See also | money | quantity theory of money | equation of exchange |


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MONETARISM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 11, 2025].


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MARGINAL RETURNS

The change in the quantity of total product resulting from a unit change in a variable input, holding all other inputs fixed. Marginal returns is an older and more generic term for marginal product. While marginal product has largely replaced marginal returns in most discussions of short-run production, the phrase does persist in a few terms like the law of diminishing marginal returns.

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Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a velvet painting of Elvis Presley or a wall poster commemorating yesterday. Be on the lookout for the last item on a shelf.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
"If anything terrifies me, I must try to conquer it. "

-- Francis Charles Chichester, yachtsman, aviator

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Office of the Comptroller of the Currency
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