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BENEFIT-COST RATIO: The benefit of an activity per dollar of cost. Benefit-cost ratios (or alternatively cost-benefit ratios) are frequently estimated for many forms of government spending, as well as a growing number of business investments. This technique was originally developed to determine if public investment projects, like dams, public parks, highways, etc., were worth doing. The logic is simple -- If benefits are greater than costs, then the project is worthwhile, if they are less, then it isn't.
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CHANGE IN REAL PRODUCTION The movement along the short-run or long-run aggregate supply curve caused by a change in the price level. A change in real production is caused ONLY by a change in the price level. This is one of two changes related to aggregate supply. The other is a change in aggregate supply. A change in real production is comparable to a change in quantity supplied. A change in real production for short-run aggregate supply means real production changes with a movement along a given short-run aggregate supply curve. However, the term "change in real production" is also used for movements along a given long-run aggregate supply curve, even though real production does not actually change in the long run.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for deranged pelicans.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"The work of the individual still remains the spark that moves mankind forward. " -- Igor Sikorsky, aeronautical engineer
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NDP
Net Domestic Product
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