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TRADING BLOC: A group of countries that are economically intertwined, share some common cultural background, are located close together, and coordinate their foreign trade policies. There are three trading blocs of note, North America, Europe, and Asia, although other portions of the globe aspire to this status. The North American bloc centers around the good old U. S. of A. with Canada and Mexico playing increasingly important roles. The European bloc contains most of the Western Europe with leading roles played by Germany, Britain, and France. Japan is the center of the Asian bloc that includes Korea, Taiwan, Hong Kong, Malaysia, and several others.
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GOVERNMENT PURCHASES Expenditures made by the government sector on final goods and services, or gross domestic product. Government purchases are used to buy the goods and services needed to operate the government (such as administrative salaries) and to provide public goods (including national defense, highway construction). These purchases are one of two major categories of government spending, the other is transfer payments. Government purchases are financed by a mix of taxes and borrowing and are categorized by the three levels of government: federal, state, and local governments. These are one of four expenditures on gross domestic product. The other three are consumption expenditures, investment expenditures, and net exports.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for a thesaurus filled with typos.
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This isn't me! What am I?
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"It is only our deeds that reveal who we are. " -- Carl Jung, psychiatrist
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WLS
Weighted Least Squares
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