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VERY SHORT RUN, MICROECONOMICS: A production period of time in which at all inputs in the production process are fixed, meaning the quantity of output itself is fixed. Also termed market period, the very short run exists if the period is so short that no additional production is possible. In other words, the good has been produced, all that remains is to sell it. This is one of four production time periods used in the study of microeconomics. The other three are short run, long run, and very long run.
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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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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either yellow cotton balls or a set of steel-belted radial snow tires. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Just as iron rusts from disuse, even so does inaction spoil the intellect. " -- Leonardo da Vinci, architect, artist
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ACCR
Annual Cost of Capital Recovery
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