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DOUBLE COUNTING: The act of including the value of intermediate goods more than once in the value of gross domestic product. Because the value, or price, of final goods includes the cost, or value, of all intermediate goods used, including market transactions for intermediate separately in the measurement of gross domestic product would lead to double counting.
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LAW OF INCREASING OPPORTUNITY COST The proposition that opportunity cost, the value of foregone production, increases as the quantity of a good produced increases. This fundamental economic principles can be seen in the production possibilities schedule and is illustrated graphically through the slope of the production possibilities curve. It generates a distinctive convex shape, flat at the top and steep at the bottom.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"You can't build a reputation on what you are going to do." -- Henry Ford, automaker
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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