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LEISURE: The portion of time workers and other people spend not being compensative for work performed when they actively engaged in the production of goods and services. In other words, this is the time people sent off the job. Leisure activities can include resting at home, working around the house (without compensation), engaging in leisure activities (such as weekend sports, watching movies), or even sleeping. Leisure time pursuits becomes increasingly important for economies as they become more highly developed. As technological advances reduce the amount of time people need to spend working to generate a given level of income, they have more freedom to pursue leisure activities. Not only does this promote sales of industries that provide leisure related goods (sports, entertainment, etc.) it also triggers an interesting labor-leisure tradeoff and what is termed the backward-bending labor supply curve.
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AUTONOMOUS NET EXPORTS Net exports by the foreign sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in net exports. Autonomous net exports are best thought of as net exports that the foreign sector undertakes independent of income. They are measured by the intercept term of the net exports line. The alternative to autonomous net exports is induced net exports, which do depend on income.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a handcrafted bird house or a weathervane with a chicken on top. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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This isn't me! What am I?
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More money is spent on gardening than on any other hobby.
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"Believe and act as if it were impossible to fail." -- Charles F. Kettering
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AOM
Australian Options Market
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