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FOREIGN AID: Gifts, loans, technical assistance, and other assorted transfers from one country to another that are intended to improve conditions in the receiving nation. The U. S. has been a major player in this foreign aid game throughout much of the twentieth century. However, most of the more developed countries of the world give aid to the lesser developed ones.
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LABOR The mental and physical human efforts used in the production of goods and services. This is one of four basic categories of resources, or factors of production. The other three are capital, land, and entrepreneurship.
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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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"The mediocre teacher tells. The good teacher explains. The superior teacher demonstrates. The great teacher inspires." -- William Ward ‚ Texas Wesleyan University Administrator
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SIB
Securities and Investment Board
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