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MACROECONOMY: The aggregate, or national economy that is the prime focus of the study of macroeconomics.
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Lesson 16: Perfect Competition | Unit 3: Doing Graphs
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Page: 12 of 28
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- Total Revenue: The first curve to note is the total revenue curve, labeled TR. The reason is that it is a straight line.
- Total Cost: The second curve is the total cost curve, labeled TC.
- The shape of the total cost curve reflects the principles of short-run production.
Profit is the difference between total revenue and total cost, which is visually seen as the vertical distance between the two curves. The breakeven output.Breakeven output is the quantity of output in which the total revenue is equal to total cost such that a firm earns exactly a normal profit, but receives no economic profit nor incurs an economic loss.
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BALANCE OF TRADE DEFICIT The negative difference of the value of goods and services exported out of a country less the value of goods and services imported into the country. A balance of trade deficit is the official term for negative net exports that occurs when imports exceed exports. A balance of trade deficit is also termed an "unfavorable" balance of trade because it results in a net outflow of monetary payments from the domestic economic to the foreign sector, which tends to be bad for a country. The alternative is a balance of trade surplus in which exports exceed imports.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for neighborhood pets, especially belligerent parrots.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Think not of yourself as the architect of your career but as the sculptor. Expect to have to do a lot of hard hammering and chiseling and scraping and polishing. " -- B. C. Forbes, founder, Forbes magazine
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CFA
Cash Flow Accounting
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