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GDI: The abbreviation for gross domestic income, which is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, as calculated using the income approach to measuring gross domestic product. Gross domestic income is virtually identical to gross domestic product (GDP), with one minor difference, the statistical discrepancy. As a matter of fact, the statistical discrepancy is identified as the difference between GDP and GDI.
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POSITIVE ECONOMICS The branch of economics that seeks to explain the way the economy actually operates. It is the application of the scientific method and the process of testing hypothesis to economic phenomena. A positive economic statement is one that can be refuted by looking at the real world--that is, by testing a hypothesis.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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SOFFEX
Swiss Options and Financial Futures Exchange
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