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IEBNR: The abbreviation for income earned but not received. The three types of income earned but not received by the factors of production are Social Security taxes, corporate profits taxes, and undistributed corporate profits. In each case a factor of production has rightfully "earned" the income by contributing to valuable production contained in gross domestic product. However, because this income is not paid to the factor and it is not income received by the household sector. IEBNR is subtracted from national income to calculate personal income.
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RISK NEUTRALITY A preference for risk in which a person is indifferent between guaranteed or certain income over risky income. Risk neutrality arises due to constant marginal utility of income. A risk neutral person has no preference for or against risk. This is one of three risk preferences. The other two are risk aversion and risk loving.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
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ECLA
Economic Commission for Latin America
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