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TOTAL REVENUE: The revenue received by a firm for the sale of its output. Total revenue is one of two parts a firm needs for the calculation of economic profit, the other is total cost. In general, total revenue is the price received for selling a good times the quantity of the good sold at that price. For a perfectly competitive firm, which receives a single unchanging price for all output sold, the calculation is relatively easy. For other real world firms, that charge different prices to different buyers for different quantities, the calculation can be more complex.
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AUTONOMOUS CONSUMPTION Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a T-shirt commemorating the second moon landing or a coffee cup commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for high interest rates.
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This isn't me! What am I?
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"Try first to be a man of value; success will follow. " -- Albert Einstein, physicist
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M2
M1 plus savings types of near monies, including savings deposits, certificates of deposits, money market deposits, repurchase agreements, and Eurodollars
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