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NONDURABLE GOODS, CONSUMPTION: Personal consumption expenditures on tangible goods that tend to last for less than a year. Common examples are food, clothing, and gasoline. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are durable goods and services. Nondurable goods are about 30% of personal consumption expenditures and 20% of gross domestic product.
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DISMAL SCIENCE A term for the study of economics developed during the late 18th and early 19th century when economists concluded that continued population growth would push wages and living standards to a minimal subsistence level and keep them there. It persists to the present time because economics continue to point out that actions result in opportunity cost, that nothing is free, and that eventually society has to pay the price for what it does.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for gnomes hiding in cypress trees.
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A half gallon milk jug holds about $50 in pennies.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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LS
Least Squares
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