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TOTAL REVENUE CURVE, MONOPOLY: A curve that graphically represents the relation between total revenue received by a monopoly for selling its output and the quantity of output sold. It is used with the monopoly firm's total cost curve to determine economic profit. The marginal revenue curve, a key factor for determining the profit-maximizing level of a firm's output, is derived directly from the total revenue curve.

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MONEY SUPPLY RULE: A proposed policy that would constrain the growth of the money supply to equal growth of the economy's production capabilities. The logic behind such a rule is to prevent discretionary use of monetary policy, which is often blamed for political business cycles and the resulting problems of inflation and unemployment.

     See also | Federal Reserve System | monetary policy | political business cycle | conservative | balanced-budget amendment | automatic stabilizers | inflation | unemployment |


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DURABLE GOODS, CONSUMPTION

Personal consumption expenditures on tangible goods that tend to last for more than a year. Common examples are cars, furniture, and appliances. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are nondurable goods and services. Durable goods are about 12 percent of personal consumption expenditures and 8 percent of gross domestic product.

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Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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