|
|
KEYNESIAN ECONOMICS: A school of thought developed by John Maynard Keynes built on the proposition that aggregate demand is the primary source of business cycle instability, especially recessions. The basic structure of Keynesian economics was initially presented in Keynes' book The General Theory of Employment, Interest, and Money, published in 1936. For the next forty years, the Keynesian school dominated the economics discipline and reached a pinnacle as a guide for federal government policy in the 1960s. It fell out of favor in the 1970s and 1980s, as monetarism, neoclassical economics, supply-side economics, and rational expectations became more widely accepted, but it still has a strong following in the academic and policy-making arenas.
Visit the GLOSS*arama
|
|
|
|
|
TOTAL COST CURVE A curve that graphically represents the relation between the total cost incurred by a firm in the short-run production of a good or service and the quantity produced. The total cost curve is a cornerstone upon which the analysis of short-run production is built. It combines all opportunity cost of production into a single curve, which can then be used with the total revenue curve to determine profit. The marginal cost curve, THE focal point for the analysis of short-run production, is derived directly from the total cost curve. The shape of the curve reflects increasing marginal returns at small quantities of output and decreasing marginal returns at larger quantities.
Complete Entry | Visit the WEB*pedia |
|
|
WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store hoping to buy either a turbo-powered vacuum cleaner or a battery-powered, rechargeable vacuum cleaner. Be on the lookout for small children selling products door-to-door.
Your Complete Scope
This isn't me! What am I?
|
|
|
The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
|
|
|
"Do not stop thinking of life as an adventure. You have no security unless you can live bravely, excitingly, imaginatively, unless you can choose a challenge instead of a competence. " -- Eleanor Roosevelt, first lady
|
|
AR
Average Revenue, Autoregressive
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
