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LEAKAGE: A non-consumption uses of income, including saving, taxes, and imports. Leakages are combined with injections in the injection-leakage model used to identify equilibrium aggregate output in Keynesian economics. The notion of leakage is best viewed through the circular flow, in which saving, taxes, and imports are "leaked" out of the main flow between output, factor payments, national income, and consumption.
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LONG-RUN PRODUCTION ANALYSIS An analysis of the production decision made by a firm in the long run. The central characteristic of long-run production analysis is that all inputs under the control of the firm are variable. The central principle guiding production in the long run is returns to scale, which indicates how production responds to proportional changes in all inputs. A contrasting analysis is short-run production analysis.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for defective microphones.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Nobody can be successful unless he loves his work. " -- David Sarnoff, TV pioneer
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UNCTAD
United Nations Conference on Trade and Development
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