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IMPLICIT PRICE DEFLATOR: A price index calculated as the ratio nominal gross domestic product to real gross domestic product. Also commonly referred to as the GDP price deflator, the implicit price deflator is used as an indicator of the economy's average price level. This price index is tabulated and reported every three months along with the gross domestic product, national income, and related measures that make up the National Income and Product Accounts maintained by the Bureau of Economic Analysis (BEA).
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GOVERNMENT BUREAUCRACIES Relatively complex government organizations that operate according to rules and procedures to implement the programs and policies of political leaders. A bureaucracy is a complex organization that usually contains hundreds or even thousands of employees, each with different duties and responsibilities. Bureaucracies exist in all types of organizations -- private, public, government, business, charities, corporations, even households. The study of public choice indicates that government bureaucracies are one source of government inefficiency. Other sources are politicians, voters, and special interest groups.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"I shall do less whenever I shall believe what I am doing hurts the cause and I shall do more whenever I shall believe doing more will help the cause. I shall try to correct errors when shown to be errors and I shall adopt new views so fast as they shall appear to be true views. " -- Abraham Lincoln, 16th US president
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FHLBB
Federal Home Loan Bank Board
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