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ACTUAL INVESTMENT: Investment expenditures that the business sector actual undertakes during a given time period, including both planned investment and any unplanned inventory changes. This is a critical component of Keynesian economics and the analysis of macroeconomic equilibrium, which occurs when actual investment is equal to planned investment. The difference between planned and actual investment is unplanned investment, which is inventory changes caused by a difference between aggregate expenditures and aggregate output. Should actual and planned investment differ, then aggregate expenditures are not equal to aggregate output, and the macroeconomy is not in equilibrium.
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AXIOM A basic precondition or assumption underlying a theory. Axioms are basic, unverifiable world view assumptions--including personal beliefs, political views, and cultural values--that form the foundation of a theory.
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GRAY SKITTERY
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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 how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for telephone calls from long-lost relatives.
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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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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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LIFO
Last In First Out
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