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NET INTEREST: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring interest earned by the household sector for supplying capital services. This is one of five official factor payments making up national income. The other four are compensation of employees, rental income of persons, corporate profits, and proprietors' income. Net interest is usually less than 10% of national income, typically in the 6-8% range.
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ASSUMPTION An initial condition or statement of a model or theory that sets the stage for an analysis by abstracting from the real world. Assumptions are important to economic analysis. Some assumptions are used to simplify a complex analysis into more easily manageable parts. Other assumptions are used as control conditions that are subsequently changed to evaluate the consequences.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for jovial bank tellers.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"Laughter is the shortest distance between two people. " -- Victor Borge, musician, humorist
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DOT
Department of the Treasury
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