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EQUATION OF EXCHANGE: An equation that specifies the relation between the money supply, the velocity of money, the price level, and real production. The equation is stated as M*V = P*Q, where M is the money supply, V is the velocity, P is the price level, and Q is real production. This equation is a key component of the quantity theory of money, which offers an explanation between the money supply and inflation.
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PERSONAL INCOME The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. Personal income (PI) is one of three measures of income reported in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are national income (NI) and disposable income (DI). Two related measures of production are gross domestic product (GDP) and net domestic product (NDP). The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for defective microphones.
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Potato chips were invented in 1853 by a irritated chef repeatedly seeking to appease the hard to please Cornelius Vanderbilt who demanded french fried potatoes that were thinner and crisper than normal.
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"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth ‚ and his humanity. " -- Peter Drucker, author
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DIDC
Depository Institutions Deregulation Committee
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