|
|
OVEREMPLOYMENT: The condition in which resources are more actively engaged in the production of goods and services than they are willing and able to at current prices. This condition is most important for short-run macroeconomic activity and short-run aggregate market analysis. In particular, overemployment is a key reason for the positive slope of the short-run aggregate supply curve. Overemployment is a primary reason the macroeconomy is able to produce MORE than full-employment production in the short run. Another reason is natural unemployment.
Visit the GLOSS*arama
|
|
|
|
                          
AVERAGE FACTOR COST: Total factor cost per unit of factor input, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is essentially the factor price. However, using the longer term average factor cost let's us see the connection with other terms, like total factor cost and marginal factor cost. See also | total factor cost | factor price | marginal factor cost | factor markets | perfect competition | monopsony | market control | average cost | law of diminishing marginal returns |
Recommended Citation:AVERAGE FACTOR COST, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: July 26, 2024].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: average factor cost
Search Again?
Back to the GLOSS*arama
|
|
|
MARGINAL PROPENSITY TO IMPORT The change in imports purchased from the foreign induced by a change in income or production (national income or gross domestic product). The marginal propensity to import (abbreviated MPM) is another term for the slope of the imports line and is calculated as the change in imports divided by the change in income or production. The MPM plays a role in Keynesian economics. It augments the slope of the aggregate expenditures line and is part to the multiplier process. A related marginal measure is the marginal propensity to consume.
Complete Entry | Visit the WEB*pedia |
|
|
BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either storage boxes for your computer software CDs or a set of tires. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
|
|
|
"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
|
|
AFBD
Association of Futures Brokers and Dealers (UK)
|
|
|
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
|
|
