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CARDINAL: A measurement based on a scale or quantitative numbers, such as 1, 5, or 357.2, that enables a comparison in magnitude. Comparability means, for example, that the difference between 5 and 2 is the same as the difference between 12 and 9. Measures such as height and weight use cardinal numbers. Most economic measures are based on cardinal numbers, including gross domestic product, unemployment rate, the price of chocolate, and the quantity of wheat produced. The benefit of cardinal measurement is the ability to directly compare one measure with another. If, for example, the price of chocolate is $1 a pound and the price of wheat is $4 a pound, then wheat is four times more expensive than chocolate. Ordinal measures, which involve relative ranking, is an alternative type of measure.
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IMPACT LAG The time lag that occurs between the implementation of a government policy designed to correct an economic problem and the complete impact of the policy. The impact lag is based on the multiplier process and can last up to a year or two or even longer. This "outside lag" is one of four policy lags associated with monetary and fiscal policy. The other three "inside lags" are recognition lag, decision lag, and implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a brown leather attache case or car battery jumper cables. Be on the lookout for strangers with large satchels of used undergarments.
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More money is spent on gardening than on any other hobby.
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"The best way to cheer yourself up is to try to cheer somebody else up." -- Mark Twain
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AIFT
American Institute for Foreign Trade
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