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NOMINAL PRODUCTION: The market value of all production measured in current, actual prices. Nominal production is typically measured with nominal GDP.

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BALANCE ON MERCHANDISE TRADE

A subset of the balance of payments current account that records the difference between the payments received for exports of goods to other nations and the payments made for the imports of goods from other nations. The goods included are physical or tangible goods, but not intangible services. The balance on merchandise trade is thus appropriately divided into merchandise exported and merchandise imported. Two other subsets of the current account include the balance on services and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.

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APLS

ORANGE REBELOON
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for pencil sharpeners with an attitude.
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More money is spent on gardening than on any other hobby.
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act."

-- Abraham Maslow, Psychologist

NBER
National Bureau of Economic Research
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