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ANNUAL: A standard 12-month period, or one year, used for reporting economic and financial data. Gross Domestic Product and related measures are noted economic data released annually. Many businesses also provide annual financial reports. Another standard reporting period is the quarter.

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Lesson 9: Macro Basics | Unit 4: Policies Page: 13 of 16

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  • Government stabilization policies that seek to bring the economy closer to the macro goals of full employment, stability and growth.
  • The two basic viewpoints regarding the role of the government: (a) Liberal Democrat: Government is the only way to keep the economy running smoothly and (b) Conservative Republican: Government is the problem, not the solution.


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INCREASING MARGINAL RETURNS

In the short-run production by a firm, an increase in the variable input results in an increase in the marginal product of the variable input. Increasing marginal returns typically surface when the first few quantities of a variable input are added to a fixed input. This is one of two alternatives for marginal returns. The other is decreasing marginal returns. A related phenomenon for long-run production is increasing returns to scale.

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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a T-shirt commemorating next Thursday or a birthday gift for your uncle. Be on the lookout for letters from the Internal Revenue Service.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
"When you play, play hard; when you work, don't play at all. "

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