Google
Sunday 
September 19, 2021 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
ARP: The abbreviation for average revenue product, which is total revenue generated per unit of a variable input, keeping all other inputs unchanged. Average revenue product, usually abbreviated ARP, is found by dividing total revenue by the variable input. Average revenue product is most often used in the analysis of the demand for productive inputs.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 14: Aggregate Supply | Unit 4: Determinants Page: 14 of 20

Topic: Quantity of Resources <=PAGE BACK | PAGE NEXT=>

A change in the quantity of labor, capital, land, or entrepreneurship will alter full employment real production and shift the long-run aggregate supply curve.
  • Changes in resource quantities tend to be steady and predictable.
  • Labor can change for three reasons:
    • Natural growth of population.
    • Migration.
    • The labor force participation rate.
  • Capital changes from depreciation of capital and investment in capital.
  • Land changes from exploration and discovery of natural resources.
  • Entrepreneurship, while difficult to measure, increases when more people assume the risk of production.

Course Home | Lesson Menu | Page Back | Page Next

LABOR FORCE

The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about. Labor force and civilian labor force are the terms of choice for government policy makers, data-crunchers, and others who need precise labor resource numbers.

Complete Entry | Visit the WEB*pedia


APLS

BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a birthday greeting card for your father or a T-shirt commemorating the first day of spring. Be on the lookout for vindictive digital clocks with revenge on their minds.
Your Complete Scope

This isn't me! What am I?

A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

USDA
United States Department of Agriculture
A PEDestrian's Guide
Xtra Credit
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



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2021 AmosWEB*LLC
Send comments or questions to: WebMaster