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FLOW: A variable or measurement that is defined for a period of time (as opposed to an instant in time). A flow can only be measured over a period. For example, GDP is the flow of production during a given year. Income is another flow measures important to the study of economics.
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IMPACT LAG The time lag that occurs between the implementation of a government policy designed to correct an economic problem and the complete impact of the policy. The impact lag is based on the multiplier process and can last up to a year or two or even longer. This "outside lag" is one of four policy lags associated with monetary and fiscal policy. The other three "inside lags" are recognition lag, decision lag, and implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for the last item on a shelf.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The time to repair the roof is when the sun is shining." -- John F. Kennedy, 35th U. S. president
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WE
Walrasian Equilibrium
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