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GOVERNMENT PURCHASES OF GOODS AND SERVICES: Expenditures on final goods and services (that is, gross domestic product) undertaken by the government sector. The official entry for government purchases in the National Income and Product Accounts maintained by the Bureau of Economic Analysis is termed government consumption expenditures and gross investment. Government purchases are used to operate the government (administrative salaries, etc.) and to provide public goods (national defense, highways, etc.). Government purchases do not include other government spending for transfer payments. These are expenditures on final goods by all three levels of government: federal, state, and local governments.
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AVERAGE REVENUE PRODUCT Total revenue generated per unit of a variable input, keeping all other inputs unchanged. Average revenue product, usually abbreviated ARP, is found by dividing total revenue by the variable input or by multiplying average physical product by average revenue. Average revenue product is a part of marginal productivity theory used to analyze the demand for productive inputs.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for rusty deck screws.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"You need just the right amount of ambition . . . If you have too little ambition, you don't push or work hard. If you have too much ambition, you put yourself ahead of others, elbow them out of your way. " -- Andy Grove, Intel chairman and co-founder
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ARMA
Autoregressive Moving Average
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