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MACRO GOALS: The three goals of a mixed economy that are most relevant to the study of macroeconomics are full employment, stability, and economic growth. Full employment is the condition in which all of the economy's available resources are engaged in the production of goods and services. Stability is the condition in which the economy avoids large changes in production, employment, and especially prices. Economic growth is the condition in which the economy's production possibilities are expanding over time.
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GOVERNMENT CONSUMPTION EXPENDITURES AND GROSS INVESTMENT The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring government purchases undertaken by the government sector. Government consumption expenditures and gross investment averages between 15-20 percent of gross domestic product. As might be expected, this percentage tends to be ebb and flow with the political winds. Some political leaders prefer more government activity, others less. However, this percentage is even more dependent on military conflicts and wars that require massive government activity. The other official expenditures included in the National Income and Product Accounts are personal consumption expenditures, gross private domestic investment, and net exports of goods and services.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a decorative windchime with plastic or a flower arrangement for that special day for your mother. Be on the lookout for the happiest person in the room.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"In a restless, creative business with an emphasis on experiment and development, ideas are the lifeblood." -- Richard Branson, Virgin Group founder
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GSP
Gross State Product
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