//File: glossary.js
//Author: Jason Tablante
//URL: http://library.advanced.org/25009
//Purpose: Vocabulary words interface

function fillbox(){
var caption=document.glossary.list.options[document.glossary.list.selectedIndex].text;
	if (caption == "Absolute Advantage"){
          document.glossary.definition.value="The ability of one country to produce a some given quantity of a good or service using fewer inputs into production than another country.";
     }else if (caption == "Agricultural Sector"){
          document.glossary.definition.value="The part of the economy consisting of agriculture, forestry, hunting and fishing.";
	 }else if (caption == "Allocative Efficiency"){
          document.glossary.definition.value="A firm is allocatively efficient if it chooses the quantities of inputs into production in order to maximize profits, taking the production technology and degree of technical efficiency as given. The degree of allocative efficiency is the extent to which a firm comes close to achieving the ideal of allocative efficiency.";
	 }else if (caption == "Altruism"){
          document.glossary.definition.value="In economics, when one person's utility depends on the utility of another person. Unlike someone who is paternalistic, an altruistic person does not dispute another person's choices or question why another person derives utility from the consumption of particular goods or services.";
	 }else if (caption == "Altruistic Value"){
          document.glossary.definition.value="The economic value attached by one person to another person's use or enjoyment of an environmental or natural resource.";
	 }else if (caption == "Autarchy"){
          document.glossary.definition.value="A policy of complete economic self-reliance - no trade or investment activities with the rest of the world.";
	 }else if (caption == "Average Product"){
          document.glossary.definition.value="The total quantity of output divided the total quantity of some input. For example, the average product of labor in wheat production is the total output of wheat divided by the number of hours of labor used to produce wheat.";
	 }else if (caption == "Basic Needs"){
          document.glossary.definition.value="The basic goods and services (food, clothing, housing, etc.) necessary to achieve some minimum standard of living.";
	 }else if (caption == "Bequest Value"){
          document.glossary.definition.value="The economic value attached to preserving an environmental or natural resource for future generations.";
	 }else if (caption == "Black Market"){
          document.glossary.definition.value="The process of buying and selling a good or service at a price greater than the legal maximum set by the government or lower than the legal minimum set by the government.";
	 }else if (caption == "Borrowing Constraint"){
          document.glossary.definition.value="A limit imposed by a lender on the amount an individual, household or firm can borrow. Depending on the situation, the constraint may be binding (someone borrows up to their limit) or non-binding (someone borrows less than their limit).";
	 }else if (caption == "Brain Drain"){
          document.glossary.definition.value="The emigration of highly educated workers from developing countries to developed countries.";
	 }else if (caption == "Buffer Stocks"){
          document.glossary.definition.value="Supplies of a product held by a country or an international organization to moderate fluctuations in the price of some commodity. Stocks are typically sold during periods of high prices and bought during periods of low prices.";
	 }else if (caption == "Capital"){
          document.glossary.definition.value="Tangible investment goods such as plant and equipment, machinery, and buildings. Often referred to as physical capital in order to distinguish it from human capital.";
	 }else if (caption == "Capital Stock"){
          document.glossary.definition.value="The total amount of tangible investment goods such as plant and equipment, machinery, and buildings.";
	 }else if (caption == "Cartel"){
          document.glossary.definition.value="An organization of producers in which each agrees to limit its output in order to increase prices and profits.";
	 }else if (caption == "Cash Crop"){
          document.glossary.definition.value="A crop produced entirely or almost entirely for sale on the market rather than for home consumption.";
	 }else if (caption == "Closed Economy"){
          document.glossary.definition.value="An economy in which there are no trade or investment activities with the rest of the world.";
	 }else if (caption == "Club Good"){
          document.glossary.definition.value="A good that is excludable but nonrival. A good is excludable if it is possible to prevent someone from consuming that good once it has been made available to the public. A good is nonrival if one person's consumption of that good does not reduce the quantity available for consumption by someone else.";
	 }else if (caption == "Common Property Resource"){
          document.glossary.definition.value="A resource where the rights of use are communally shared and ownership is not private but communal.";
	 }else if (caption == "Comparative Advantage"){
          document.glossary.definition.value="The ability of one country to produce a some given quantity of a good or service a lower opportunity cost than another country, taking into account the fact that resources used in the production of one good or service are no longer available for use in the production of other goods and services.";
	 }else if (caption == "Consumer Surplus"){
          document.glossary.definition.value="A measure of the benefits to consumers from the consumption of a good or service. Defined as the area below the demand curve up to the total quantity consumed, minus total expenditures on the good or service.";
	 }else if (caption == "Cost-Benefit Analysis"){
          document.glossary.definition.value="An economic technique in which anticipated private and social costs of a proposed investment, public policy or other activity are weighted against anticipated private and social benefits from the proposed activity.";
	 }else if (caption == "Cost-Effectiveness"){
          document.glossary.definition.value="A criterion for evaluating a program or public policy. A program or policy is cost-effective if it attains its objectives at the lowest possible social cost. Unlike economic efficiency, the cost-effectiveness criterion does not ask if the objectives are socially desirable.";
	 }else if (caption == "Cross-Price Elasticity of Demand"){
          document.glossary.definition.value="The percentage change in the consumption of some goods or services in response to a 1% increase in the price of some other goods or services.";
	 }else if (caption == "Deadweight Loss"){
          document.glossary.definition.value="The monetary value of the loss in economic efficiency due to a government policy (for example, a tax, subsidy, quota, price floor, or price ceiling) that causes market prices, supply or demand to differ from their free market equilibrium values.";
	 }else if (caption == "Demographic Transition"){
          document.glossary.definition.value="The historical process of first moving from high birth rates and high death rates to high birth rates and low death rates, and then finally to low birth rates and low death rates.";
	 }else if (caption == "Dependency Burden"){
          document.glossary.definition.value="The proportion of the total population aged 0 to 15 and 65+, age groups that typically contribute relatively little to the production of goods and services.";
	 }else if (caption == "Depreciation"){
          document.glossary.definition.value="The loss of capital that occurs when machinery, equipment, and other capital goods are used up, wear out, break down, or are rendered obsolete by the introduction of new and improved capital goods.";
	 }else if (caption == "Econometrics"){
          document.glossary.definition.value="The application of statistical tools and techniques to economic issues and economic data.";
	 }else if (caption == "Economic Development"){
          document.glossary.definition.value="The process of improving the quality of human life through increasing per capita income, reducing poverty, and enhancing individual economic opportunities. It is also sometimes defined to include better education, improved health and nutrition, conservation of natural resources, a cleaner environment, and a richer cultural life.";
	 }else if (caption == "Elasticity"){
          document.glossary.definition.value="The percentage change in one economic variable in response to a 1% change in some other economic variable.";
	 }else if (caption == "Endogenous Growth"){
          document.glossary.definition.value="Economic growth generated by forces within an economic model as opposed to forces acting from outside on that model. Typically refers to treating accumulation of human capital and technical change as endogenous to an economic model as opposed to exogenous to the model.";
	 }else if (caption == "Environmental Capital"){
          document.glossary.definition.value="The stock of natural resources and environmental assets. Includes water, soils, air, flora, fauna, minerals, and other natural resources.";
	 }else if (caption == "Exhaustible Resource"){
          document.glossary.definition.value="A resource whose total stock is fixed or whose rate of regeneration is so small relative to consumption that it can for all practical purposes be regarded as fixed.";
	 }else if (caption == "Existence Value"){
          document.glossary.definition.value="An economic value placed on an environmental or natural resource above and beyond any value that might be derived from the actual use of the resource or from the value of preserving the option of future use.";
	 }else if (caption == "External Debt"){
          document.glossary.definition.value="The total private and public debt owed by a country to individuals, households, firms, and governments in other countries.";
	 }else if (caption == "Externality"){
          document.glossary.definition.value="Any benefit or cost imposed by an individual, household or firm on another individual, household or firm for which no compensation is paid or received.";
	 }else if (caption == "Extreme Poverty"){
          document.glossary.definition.value="A situation in which a person or household lacks the resources to consume a certain minimum amount of food judged to be necessary for adequate nutrition, even in the case when all resources are devoted to food.";
	 }else if (caption == "Financial Intermediary"){
          document.glossary.definition.value="Any public or private financial institution that directs loanable funds from savers to borrowers.";
	 }else if (caption == "Fixed Input"){
          document.glossary.definition.value="An input whose quantity used is taken as fixed and therefore outside of the control of a firm given the time horizon under consideration.";
	 }else if (caption == "Foreign Investment"){
          document.glossary.definition.value="Investments in a country by private corporations or individuals in other countries.";
	 }else if (caption == "Free Rider"){
          document.glossary.definition.value="An individual, household or firm that benefits from actions paid for by some other individual, household or firm.";
	 }else if (caption == "General Equilibrium"){
          document.glossary.definition.value="A method of economic analysis that examines all the sectors and activities in an economy at the same time. Useful for studying economic interactions between various sectors.";
	 }else if (caption == "Gross Domestic Product (GDP)"){
          document.glossary.definition.value="The total final output of goods and services produced within a country's territory by residents and nonresidents of that country.";
	 }else if (caption == "Gross National Product (GNP)"){
          document.glossary.definition.value="The total income earned by the citizens of a country. Equal to gross domestic product (GDP) plus income accruing to residents from outside of the country, minus income earned in the domestic economy by nonresidents.";
	 }else if (caption == "Half-Share Coefficient"){
          document.glossary.definition.value="The share of national income received (or percentage of national consumption expenditures paid) by the bottom 50% of individuals or households in terms of income or expenditures.";
	 }else if (caption == "Human Capital"){
          document.glossary.definition.value="The knowledge, skills, abilities and capacities possessed by people. Human capital can be accumulated in many ways, including education, on-the-job training, on-the-job experience (see learning-by-doing), investments in health, outreach and extension programs, life experience, migration, and searching for information about goods, services, employment opportunities, etc.";
	 }else if (caption == "Imperfect Competition"){
          document.glossary.definition.value="Occurs when the actions of at least one buyer or seller have an effect on the market price. The opposite of imperfect competition is perfect competition.";
	 }else if (caption == "Imperfect Information"){
          document.glossary.definition.value="Occurs when at least one buyer does not know the true benefits associated with the consumption of a good or service, or when at least one seller does not know the true costs associated with the production of a good or service. The opposite of imperfect information is perfect information.";
	 }else if (caption == "Income Elasticity of Demand"){
          document.glossary.definition.value="The percentage change in the consumption of some good or service in response to a 1% increase in the consumer's income.";
	 }else if (caption == "Increasing Returns to Scale"){
          document.glossary.definition.value="A situation in which a 1% increase in each input into production leads to more than a 1% increase in output. See also constant returns to scale and decreasing returns to scale.";
	 }else if (caption == "Increasing Returns to Size"){
          document.glossary.definition.value="A situation in which an increase in output leads to a decrease in the average total cost of production.";
	 }else if (caption == "Induced Innovation"){
          document.glossary.definition.value="The development and adoption of technologies in response to changes in relative prices of factors of production. Refers specifically to the tendency to develop and adopt technologies that reduce the usage of factors that are becoming relatively more expensive and increase the usage of factors that are becoming relatively less expensive.";
	 }else if (caption == "Infrastructure"){
          document.glossary.definition.value="The capital embodied in transportation (roads, railways, waterways, etc.), communications (telephones, radios, televisions, etc.), electricity, water supplies, sanitation, and financial institutions.";
	 }else if (caption == "Labor-Augmenting Technical Change"){
          document.glossary.definition.value="Technical change that increases output by raising the productivity of labor. For example, information technologies that permit better managerial decisions could be interpreted in part as labor-augmenting technical change.";
	 }else if (caption == "Labor Productivity"){
          document.glossary.definition.value="The total quantity of output divided by the amount of labor used in production. Same as the average product of labor.";
	 }else if (caption == "Land Productivity"){
          document.glossary.definition.value="The total quantity of output divided by the amount of land used in production (in other words, yield). Same as the average product of land.";
	 }else if (caption == "Law of Diminishing Returns"){
          document.glossary.definition.value="The tendency, beyond a certain point, for the marginal product of an input to fall as additional amounts of that input are used, holding constant production technologies and the quantities of other inputs into production. Furthermore, beyond a certain point, the average product also falls.";
	 }else if (caption == "Long Run"){
          document.glossary.definition.value="A time horizon over which all inputs into production are variable and none are fixed.";
	 }else if (caption == "Low-Income Country"){
          document.glossary.definition.value="A country with a relatively low level of per capita income. The current cutoff for low-income countries is a per capita income (in 1995 U.S. dollars) of $765 or less.";
	 }else if (caption == "Marginal Benefit"){
          document.glossary.definition.value="The monetary value of the benefit associated with the consumption of one additional unit of a good or service.";
	 }else if (caption == "Marginal Cost"){
          document.glossary.definition.value="The change in the total cost of production for some good or service caused by a one-unit increase in production.";
	 }else if (caption == "Marginal Product"){
          document.glossary.definition.value="The change in total output in response to a one unit increase in the quantity of some input. For example, the marginal product of labor in wheat production is the increase in wheat output in response to a one unit increase in the amount of labor used to produce wheat.";
	 }else if (caption == "Marginal Social Benefit"){
          document.glossary.definition.value="The monetary value of the benefit to society at large associated with the consumption of one additional unit of a good or service.";
	 }else if (caption == "Marginal Social Cost"){
          document.glossary.definition.value="The change in the total cost of production for some good or service plus the monetary value of the costs incurred by all other members of society associated with the production of one additional unit of that good or service.";
	 }else if (caption == "Market Economy"){
          document.glossary.definition.value="An economy in which most goods and services are produced by the private sector rather than the public sector and in which prices of goods and services adjust according to the forces of supply and demand.";
	 }else if (caption == "Moderate Poverty"){
          document.glossary.definition.value="A situation in which a person or household lacks the resources to consume a certain minimum basket of goods consisting of food, clothing, housing and other essentials, even in the case where all resources are devoted to those essentials.";
	 }else if (caption == "Monopoly"){
          document.glossary.definition.value="A market for a good or service in which there is only one seller.";
	 }else if (caption == "Monopsony"){
          document.glossary.definition.value="A market for a good or service in which there is only one buyer.";
	 }else if (caption == "Moral Hazard"){
          document.glossary.definition.value="A situation in which the presence of insurance or some government policy weakens incentives for individuals, households or firms to behave prudently.";
	 }else if (caption == "Net Domestic Product (NDP)"){
          document.glossary.definition.value="Gross domestic product (GDP) minus depreciation of capital. In cases were green accounting is used, capital includes natural resources and the environment. See also net national product.";
	 }else if (caption == "Net National Product (NNP)"){
          document.glossary.definition.value="Gross national product (GNP) minus depreciation of capital. In cases were green accounting is used, capital includes natural resources and the environment. See also net domestic product.";
	 }else if (caption == "Net Present Value"){
          document.glossary.definition.value="The value of the future stream of benefits from an investment discounted to the present by means of a discount rate (or interest rate). The discount rate should reflect the opportunity cost of the resources devoted to the investment - what the resources could have earned if they had been invested elsewhere.";
	 }else if (caption == "Oligopoly"){
          document.glossary.definition.value="A market for a good or service in which the decisions of at least one of the sellers have an impact on the market price.";
	 }else if (caption == "Oligopsony"){
          document.glossary.definition.value="A market for a good or service in which the decisions of at least one of the buyers have an impact on the market price.";
	 }else if (caption == "Open Access Good"){
          document.glossary.definition.value="A good that is rival but nonexcludable. A good is rival if one person's consumption of that good reduces the quantity available for consumption by someone else. A good is nonexcludable if it is not possible to prevent someone from consuming that good once it has been made available to the public.";
	 }else if (caption == "Opportunity cost"){
          document.glossary.definition.value="Defined as the advantage that was foregone as the result of accepting or using a resource in an alternative way. It is measured as the benefits that were obtained by choosing an alternative.";
	 }else if (caption == "Option Value"){
          document.glossary.definition.value="An economic value placed on an environmental or natural resource because people want to preserve the option of using the resource in the future, above and beyond any expected value attached to the future use of the resource.";
	 }else if (caption == "Partial Equilibrium"){
          document.glossary.definition.value="A method of economic analysis that examines one or more sectors of an economy, taking what is happening in the rest of the economy as exogenous (in other words, not affected by the sectors being analyzed). Useful for detailed study of one or more sectors. See also general equilibrium.";
	 }else if (caption == "Paternalism"){
          document.glossary.definition.value="In economics, when one person's utility depends on the consumption of particular goods or services by another person. Unlike someone who is altruistic, a paternalistic person may have different preferences regarding other people's consumption choices than those people themselves.";
	 }else if (caption == "Per Capita Income"){
          document.glossary.definition.value="Total income divided by total population; in other words, average income per person.";
	 }else if (caption == "Perfect Competition"){
          document.glossary.definition.value="Occurs when the none of the actions of any buyer or seller has an effect on the market price. The opposite of perfect competition is imperfect competition.";
	 }else if (caption == "Private Cost"){
          document.glossary.definition.value="The cost of an activity to the individual, household, or firm undertaking the activity.";
	 }else if (caption == "Private Good"){
          document.glossary.definition.value="A good that is both excludable and rival. A good is excludable if it is possible to prevent someone from consuming that good once it has been made available to the public. A good is rival if one person's consumption of that good reduces the quantity available for consumption by someone else.";
	 }else if (caption == "Producer Surplus"){
          document.glossary.definition.value="A measure of the gains to producers from production of a good or service. Defined as total revenues earned, minus the area underneath the supply curve up to the total quantity produced. See also consumer surplus.";
	 }else if (caption == "Profit Maximization"){
          document.glossary.definition.value="Choosing the level of output, and the quantities of inputs into production needed to achieve that level of output, so as to make profits as large as possible. See also cost minimization.";
	 }else if (caption == "Public Good"){
          document.glossary.definition.value="A good that is both nonexcludable and nonrival. A good is nonexcludable if it is not possible to prevent anyone from consuming the good once it has been made available to the public. A good is nonrival if one person's consumption of that good does not reduce the quantity available for consumption by someone else.";
	 }else if (caption == "Rate of Return (ROR)"){
          document.glossary.definition.value="The average annual benefits from an investment divided by the net present value of all costs associated with the investment. Average annual benefits are calculated as the net present value of all benefits divided by the useful life of the investment.";
	 }else if (caption == "Renewable Resource"){
          document.glossary.definition.value="A resource that can grow or regenerate itself within a time span relevant to human decision making (for example, years instead of centuries).";
	 }else if (caption == "Shifting Cultivation"){
          document.glossary.definition.value="A practice in which a parcel of agricultural land is cultivated until its productivity has been depleted, after which a new parcel is cultivated. The original parcel is in many cases cultivated again after its productivity has been restored.";
	 }else if (caption == "Short Run"){
          document.glossary.definition.value="A time horizon over which at least one input into production is fixed.";
	 }else if (caption == "Slash-and-Burn Agriculture"){
          document.glossary.definition.value="The practice of cutting and burning a forested area to make way for agriculture, and then moving to another forested area after the previous area's agricultural productivity has been depleted. Historically, forests were permitted to regrow on the depleted land, after which the land was often cut and burned again.";
	 }else if (caption == "Social Benefit"){
          document.glossary.definition.value="The benefit of an activity to society at large, taking into account not only the benefit to the individual, household, firm or government undertaking the activity but also the benefits to all other members of society.";
	 }else if (caption == "Social Cost"){
          document.glossary.definition.value="The cost of an activity to society at large, taking into account not only the cost to the individual, household, firm or government undertaking the activity but also the costs to all other members of society.";
	 }else if (caption == "Sustainable Development"){
          document.glossary.definition.value="Economic development that (1) takes full account of negative and positive environmental impacts occurring during the development process, and (2) places appropriate weight on the well-being of not only the current generation but also future generations.";
	 }else if (caption == "Trade-off"){
          document.glossary.definition.value="It is the loss of something by gaining another.  For example, when a purchase is made for a high price because of brand name, the additional cost of money (the trade-off) is lost in order for the gain of another benefit (the brand name).";
	 }else document.glossary.definition.value="Search for the definition from the list above.";
}