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FAVORABLE BALANCE OF TRADE: An imbalance in a nation's balance of trade in which the payments for merchandise exports received by the country exceed payments for merchandise imports paid by the country. This is also termed a balance of trade surplus. It's considered favorable because more goods are exported out of the country than are imported in, meaning that foreign production is replaced with domestic production, which then increases domestic employment and income. A balance of trade surplus is often the source of a balance of payments surplus.
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CURRENT POPULATION SURVEY A monthly survey of 60,000 occupied households undertaken by the Bureau of the Census which is then used by the Bureau of Labor Statistics (BLS) to estimate the employment, unemployment, and labor force status of the entire population. The Current Population Survey (CPS) contains an extensive series of questions designed to identify the wide range of ways a person can be categorized as employed, unemployed, in the labor force, or not in the labor force. The CPS is THE source of data used to calculate the nation's official unemployment rate, as well as other employment measures, such as the employment rate and labor force participation rate.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?
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The average length of a "business lunch" is about 36 minutes.
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"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
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JPE
Journal of Political Economy
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