|
|
GOVERNMENT PURCHASES OF GOODS AND SERVICES: Expenditures on final goods and services (that is, gross domestic product) undertaken by the government sector. The official entry for government purchases in the National Income and Product Accounts maintained by the Bureau of Economic Analysis is termed government consumption expenditures and gross investment. Government purchases are used to operate the government (administrative salaries, etc.) and to provide public goods (national defense, highways, etc.). Government purchases do not include other government spending for transfer payments. These are expenditures on final goods by all three levels of government: federal, state, and local governments.
Visit the GLOSS*arama
|
|
|
|
|
ARC ELASTICITY The average elasticity for discrete changes in two variables. The distinguishing characteristic of arc elasticity is that percentage changes are calculated based on the average of initial and ending values of each variable, rather than initial values. Arc elasticity is generally calculated using the midpoint elasticity formula. The contrast to arc elasticity is point elasticity. For infinitesimally small changes in two variables, arc elasticity is the same as point elasticity.
Complete Entry | Visit the WEB*pedia |
|
|
|
The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
|
|
|
"There's a very positive relationship between people's ability to accomplish any task and the time they're willing to spend on it." -- Dr. Joyce Brothers
|
|
AS-AD
Aggregate Supply-Aggregate Demand Model
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
