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GROSS NATIONAL PRODUCT: The total market value of all goods and services produced by the citizens of an economy during a given period of time, usually one year. Gross national product, often abbreviated simply as GNP, was once the federal government's official measure of how much output our economy produces. In the early 1990s, however, it was replaced by gross domestic product (GDP).
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FISCAL POLICY Control over government spending and taxes by a central government which is used to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States fiscal policy is primarily undertaken at the federal level through acts of Congress and actions by the President. However, state and local governments also undertake fiscal policy to stabilize their local macroeconomies. The government sector has three alternative tools in the use of fiscal policy--government purchases, taxes, and transfer payments. An alternative to fiscal policy is monetary policy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"Failure is the opportunity to begin again, more intelligently. " -- Henry Ford, automobile manufacturer
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LWOP
Leave Without Pay
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