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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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AUTONOMOUS CONSUMPTION

Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on 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 home decorating or a set of luggage with wheels. Be on the lookout for deranged pelicans.
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
"Every time you win, it diminishes the fear a little bit. You never really cancel the fear of losing; you keep challenging it. "

-- Arthur Ashe, tennis player

NI
National Income, Net Income
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