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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.

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INCOME RECEIVED BUT NOT EARNED

The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.

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Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a how-to book on the art of negotiation or a flower arrangement for your aunt. Be on the lookout for mail order catalogs with hidden messages.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"All things are difficult before they are easy."

-- Thomas Fuller, Physician

APR
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