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OUTSIDE LAG: In the context of economic policies, the time between corrective government action responding to a shock to the economy and the resulting affect on the economy. This is one of two primary lags in the use of economic policies. The other is inside lag, the time between a shock to the economy and corrective government action responding to the shock. The length of the outside lag, also termed impact lag, is primarily based on the speed of the multiplier process and is essentially the same for both fiscal and monetary policy. The length of the inside and outside lags is one argument against the use of discretionary policies to stability business cycles.
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NET FOREIGN FACTOR INCOME The difference between factor payments received from the foreign sector by domestic citizens and factor payments made to foreign citizens for domestic production. Net foreign factor income (NFFI) is the key difference between gross DOMESTIC product and gross NATIONAL product in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. It is also an important difference between NATIONAL income and gross (and net) DOMESTIC product.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for celebrities who speak directly to you through your television.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"Opportunities are usually disguised as hard work, so most people don't recognize them." -- Ann Landers, columnist
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MP
Marginal Product
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