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ALLOCATION: The process of distributing resources for the production of goods and services, and of distributing goods and services for consumption by households. This process of allocation is essential to an economy's effort to address the problem of scarcity. An allocation is efficient if the resources, goods, and services are distributed according to the economy's highest valued uses.
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BUREAU OF ECONOMIC ANALYSIS An agency of the Department of Commerce that collects data about the United States economy (and other economies as well), conducts economic research and analysis, develops and implements estimation methodologies, and disseminates economic statistics to the public. The information produced by the Bureau of Economic Analysis (BEA for short) allows the government, business leaders, researchers, and the public to follow and understand the performance of the United States economy. Along with the Census Bureau and STAT-USA, BEA is part of the Department's Economics and Statistics Administration.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store wanting to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for celebrities who speak directly to you through your television.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Never let the fear of striking out get in your way. " -- Babe Ruth
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CRS
Constant Returns to Scale
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