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ACTIVIST POLICY: Government policies that involve explicit actions designed to achieve specific goals. A common type of activist policy is that designed to stabilize business cycles, reduce unemployment, and lower inflation, through government spending and taxes (fiscal policy) or the money supply (monetary policy). Activist policies are also term discretionary policies because they involve discretionary decisions by government. A contrast to activist policy is automatic stabilizers that help stabilize business cycles without explicit government actions.
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AVERAGE-MARGINAL RULE: An intriguing, extremely useful mathematical relationship between an average measure and it's corresponding marginal measure, for example average product and marginal product, or average total cost and marginal cost. When the marginal measure is greater than the average measure, then the average measure increases. Alternatively, when the marginal measure is less than the average measure, then the average measure decreases. In addition, when the marginal measure is equal to the average measure the average measure doesn't change. See also | average product | marginal product | average total cost | average variable cost | marginal cost | average revenue | marginal revenue | average factor cost | marginal factor cost | average revenue product | marginal revenue product |
Recommended Citation:AVERAGE-MARGINAL RULE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 20, 2025].
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NATIONAL INCOME AND NET DOMESTIC PRODUCT National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production of final goods and services during a given period of time, usually one year. Net domestic product (NDP) is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Although national income is generated by the production of net domestic product, the value of production does not entirely result in earned income. In other words, national income can be derived from net domestic product after a few adjustments.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for poorly written technical manuals.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"The only place success comes before work is in the dictionary. " -- Vince Lombardi
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NSF
National Science Foundation
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