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NATIONAL INCOME AND PERSONAL INCOME: 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 during a given period of time, usually one year. Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).

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FACTORS OF PRODUCTION

Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Factors of production are also termed resources or scarce resources.

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APLS

BLACK DISMALAPOD
[What's This?]

Today, you are likely to spend a great deal of time at an auction looking to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for defective microphones.
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This isn't me! What am I?

Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Success doesn't come to you . . . you go to it "

-- Marva Collins, Educator

COLA
Cost of Living Adjustment
A PEDestrian's Guide
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