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JOB VACANCY RATE: A simple little ratio of the number of job vacancies in our economy to the sum of employment and job vacancies. In essence, this measures the fraction of jobs in the economy that are open, but haven't been filled. To be included as an officially vacant job, employers must be actively searching to fill it with a warm body, by advertising in the paper, contacting employment offices, etc. Like the more common unemployment rate, the job vacancy rate is a useful indicator of the business cycle. When the economy is booming, the job vacancy rate is likely to be relatively high. A low rate signals a recession.
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AVERAGE REVENUE CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average revenue received by a perfectly competitive firm for selling its output and the quantity of output sold. Because average revenue is essentially the price of a good, the average revenue curve is also the demand curve for a perfectly competitive firm's output.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking 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 deranged pelicans.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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LCH
Life Cycle Hypothesis
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