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NI: The abbreviation for national income, which is the total income earned by the citizens of the national economy as a result of their ownership of resources used in the production of final goods and services during a given period of time, usually one year. This is the government's official measure of how much income is generated by the economy. National income, generally abbreviated as NI, is the broadest, most comprehensive of three income measures reported quarterly (every three months) in the National Income and Product Accounts by the Bureau of Economic Analysis.
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ASSUMPTIONS, KEYNESIAN ECONOMICS The macroeconomic study of Keynesian economics relies on three key assumptions--rigid prices, effective demand, and savings-investment determinants. First, rigid or inflexible prices prevent some markets from achieving equilibrium in the short run. Second, effective demand means that consumption expenditures are based on actual income, not full employment or equilibrium income. Lastly, important savings and investment determinants include income, expectations, and other influences beyond the interest rate. These three assumptions imply that the economy can achieve a short-run equilibrium at less than full-employment production.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a flea market seeking to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for door-to-door salesmen.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"In a decisive set, confidence is the difference. " -- Chris Evert, tennis champion
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Seminonparametric
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