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February 12, 2025 

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MARGINAL REVENUE: The change in total revenue resulting from a change in the quantity of output sold. For a perfectly competitive firm, marginal revenue is equal to price.

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RESERVES: The vault cash and deposits at the Federal Reserve System that banks use to complete day-to-day transactions.

     See also | bank | vault cash | Federal Reserve deposits | required reserves | legal reserves | excess reserves |


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RESERVES, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: February 12, 2025].


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RESOURCE PRICE, AGGREGATE SUPPLY DETERMINANT

One of three categories of aggregate supply determinants assumed constant when the aggregate supply curve is constructed, and which shifts the aggregate supply curve when it changes. An increase in a resource price causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in a resource price causes an increase (rightward shift) of the short-run aggregate supply curve. The other two categories of aggregate supply determinants are resource quantity and resource quality. Specific determinants falling into this general category include wages and energy prices. Anything affecting the prices paid for the use of labor, capital, land, and entrepreneurship is also included.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either hand lotion, a big bottle of hand lotion or a lighted magnifying glass. Be on the lookout for the happiest person in the room.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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