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JUGLAR CYCLE: A cycle of economic activity lasting between 8 and 10 years that acquired the name of the first economist to study it, Clement Juglar. The Juglar cycles is attributed to investment in equipment and machinery. This is one of four separate cycles of macroeconomic activity that have been documented or hypothesized. The other three are Kitchin cycle, Kuznets cycle, and Kondratieff cycle.
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SHUTDOWN RULE A rule stating that a firm minimizes economic loss by producing no output in the short run if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is less than average total cost but greater than average variable cost).
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PINK FADFLY
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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club looking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for telephone calls from long-lost relatives.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Every man must decide whether he will walk in the light of creative altruism or in the darkness of destructive selfishness." -- Martin Luther King, Jr., clergyman
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IAB
Inter-American Bank
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