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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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REPURCHASE AGREEMENTS Short-term loans in which borrower sell assets to lenders with the agreement to purchase the assets at a later time a higher price. The assets most commonly sold are short-term U.S. Treasury securities and the higher price includes an interest payment on the loan. Repurchase agreements, also termed repos, are commonly used by the borrowers (that is, the sellers) to acquire short-term liquidity without foregoing the longer term investment returns from the assets. Repurchase agreements, along with other institutional investment near monies, are added to M2 to derive M3.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Anyone who has never made a mistake has never tried anything new. " -- Albert Einstein, physicist
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COMECON
Council for Mutual Economic Assistance
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