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ALTERNATIVE UNEMPLOYMENT RATES: The official unemployment rate estimated and reported monthly by the Bureau of Labor Statistics (BLS) using data from Current Population Survey is one of six alternative measures of unemployment tracked by the BLS, officially labeled U1-U6. The "official" unemployment rate is U3. The other five measures seek to document different ways in which labor can be underutilized, including unemployment duration, job losers, discouraged workers, marginally-attached workers, and part-time workers.

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PRODUCTION INPUTS

The resources, or factors of production, used in the production of output by a firm. This term is most frequently associated with the analysis of short-run production, and is often modified by the terms fixed and variable, as in fixed input and variable input. The quantity of a variable input can be changed in the short run and the quantity of a fixed input cannot be changed.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for cardboard boxes.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"Plans are only good intentions unless they immediately degenerate into hard work."

-- Peter Drucker, management consultant

CRRA
Constant Relative Risk Aversion
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