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C: The standard abbreviation for consumption expenditures by the household sector, especially when used in the study of macroeconomics. This abbreviation is most often seen in the consumption function, specified as C = a + bY, where Y stands for national income. It is also used for the aggregate expenditure equation, AE = C + I + G + (X - M), where I, G, and (X - M) represent expenditures by the other three macroeconomic sectors, business, government, and foreign.
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GROSS DOMESTIC PRODUCT, WELFARE Gross domestic product (GDP) is the total market value of all goods and services produced within the political boundaries of an economy during a given period of time, usually one year. GDP is intended to measure the nation's production of wants-and-needs satisfying goods and services. While it provides an indication of how far the economy has come on the long road to battling the ever-present scarcity problem, it is NOT a direct measure of the nation's welfare or well-being. GDP is certainly a big component of the well-being of the country, but not the ONLY component.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for pencil sharpeners with an attitude.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"Don't be afraid of the space between your dreams and reality. If you can dream it, you can make it so." -- Belva Davis, Journalist
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