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NATIONAL ASSOCIATION OF SECURITIES DEALERS: A stock market in which corporate stocks are exchanged by dealers across the country using a computerized system of stock price quotes. This is often referred to as the "over-the-counter" stock market, because, unlike the New York Stock Exchange, the American Stock Exchange, and others, the dealers don't conduct their business at a single location. They match up their buy and sell orders through a computer network rather than through the face-to-face contact. Transactions conducted by the NASD give rise to one of the more commonly publicized stock market price indicators, the NASDAQ (which stands for National Association of Securities Dealers Automated Quotation). The widely used NASDAQ composite index is based on the prices of 5,000 of these over-the-counter stocks.

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Lesson 15: Cost | Unit 2: Three Totals Page: 8 of 24

Topic: TP And TVC <=PAGE BACK | PAGE NEXT=>

Notes about the total variable cost curve and the total product curve:
  • First, the total product curve is the relation between a variable input and total product, which is the quantity of output.

  • Second, the total variable cost curve is the relation between the variable cost of production and the quantity of output, which is total product.

  • Third, variable cost are the cost that change with the quantity of output, and the quantity of output changes by changing variable inputs.

  • Fourth, the total product curve is the relation between output quantity and the QUANTITY of variable inputs, whereas the total variable cost curve is the relation between the quantity of output and the COST of variable inputs.

Note that the shape of the TVC curve, is the same as the TP curve.


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FEDERAL FUNDS

A common term for Federal Reserve deposits held by commercial banks, especially when these deposits are loaned between banks through the Federal funds market. The interest rate charged for these interbank loans is termed the Federal funds rate. Federal funds are used by individual banks to meet reserve requirements and the total held by the banking system is manipulated by the Federal Reserve System in the conduct of monetary policy.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting 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 cardboard boxes.
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The average bank teller loses about $250 every year.
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