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DI: The abbreviation for disposable income,which is the total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. This is the income left over after income taxes and social security taxes are removed and government transfer payments, like welfare, social security benefits, or unemployment compensation are added. Because consumption and saving are important to our economy for short-run stability and long-run growth, pointy-headed economists like to keep a close eye on disposable personal income. Disposable income is reported quarterly (every three months) in the National Income and Product Accounts maintained by the Bureau of Economic Analysis.
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LONG-RUN MARGINAL COST The change in the long-run total cost of producing a good or service resulting from a change in the quantity of output produced. Like all marginals, long-run marginal cost is an increment of the corresponding total. It is the change in long-run total cost divided by, or resulting from, a change in quantity. Long-run marginal cost is guided by returns to scale rather than marginal returns.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time watching the shopping channel trying to buy either a tall storage cabinet with five shelves and a secure lock or a birthday greeting card for your grandmother. Be on the lookout for telephone calls from former employers.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"Old minds are like old horses; you must exercise them if you wish to keep them in working order. " -- John Adams, 2nd US president
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LRMC
Long Run Marginal Cost
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