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OPEN ECONOMY: An economy with a great deal of foreign trade. At the extreme, a completely open economy is one that has no trade barriers. Most of the world's hundred-plus nations are relatively open, but much less than they could be because of a wide assortment of trade restrictions. The more an economy is open, the more dependent it is on happenings around the world.
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CONSUMER PRICE INDEX An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index (CPI) is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI is one of two key price indexes used as a measure of the price level and to estimate the inflation rate. The other is the GDP price deflator. The CPI is also officially designated as the Consumer Price Index for All Urban Consumers (CPI-U). Another noted price index is the Producer Price Index (PPI).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either an electric coffee pot with automatic shutoff or a brown leather attache case. Be on the lookout for malfunctioning pocket calculators.
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This isn't me! What am I?
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"A leader is most successful when people barely know he exists. When his work is done, his aim fulfilled, his troops will feel they did it themselves. " -- Lao-Tzu, philosopher
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MSE
Minimum Efficient Scale
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