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PERSONAL INCOME AND DISPOSABLE INCOME: 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, usually one year. Disposable income (DI) is the total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. Disposable income is after-tax income that is officially calculated as the difference between personal income and personal tax and nontax payments. In the numbers game, personal tax and nontax payments are about 15% of personal income, which makes disposable personal income about 85% of personal income.
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LAND The naturally occurring resources used in the production of goods and services, including the land itself; the minerals and nutrients in the ground; the water, wildlife, and vegetation on the surface; and the air above. Land also includes the productive dimensions of space and accessibility. This is one of four basic categories of resources, or factors of production. The other three are labor, capital, and entrepreneurship.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a weathervane with a horse on top or a case of blank recordable DVDs. Be on the lookout for slow moving vehicles with darkened windows.
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This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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PPC
Production Possibilities Curve
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