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LEISURE: The portion of time workers and other people spend not being compensative for work performed when they actively engaged in the production of goods and services. In other words, this is the time people sent off the job. Leisure activities can include resting at home, working around the house (without compensation), engaging in leisure activities (such as weekend sports, watching movies), or even sleeping. Leisure time pursuits becomes increasingly important for economies as they become more highly developed. As technological advances reduce the amount of time people need to spend working to generate a given level of income, they have more freedom to pursue leisure activities. Not only does this promote sales of industries that provide leisure related goods (sports, entertainment, etc.) it also triggers an interesting labor-leisure tradeoff and what is termed the backward-bending labor supply curve.
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FOUR-SECTOR INJECTIONS-LEAKAGES MODEL A variation of the Keynesian injections-leakages model that adds the foreign sector to the three domestic sectors--the household sector, the business sector, and the government sector. This variation adds the foreign to the three domestic sectors (household, business, and government) in the three-sector model and provides an alternative to the four-sector aggregate expenditures (Keynesian cross). It provides the complete Keynesian representation of the macroeconomy, including the export-import interaction between the domestic economy and the foreign sector. Equilibrium is identified as the intersection between the S + T + M line and the I + G + X line. Two related variations are the two-sector injections-leakages model and the three-sector injections-leakages model.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store seeking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for neighborhood pets, especially belligerent parrots.
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In the early 1900s around 300 automobile companies operated in the United States.
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"And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. " -- Andrew Carnegie, entrepreneur
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R&D
Research and Development
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