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OCCUPATIONAL MOBILITY: The mobility, or movement, of factors of production from one type of productive activity to another type of productive activity. In particular, occupational mobility is the ease with which resources can change occupations. For example, a worker leaves a job as an accountant to takes a job as a computer programmer. Some factors are highly mobile and thus can easily moved jobs. Other factors are highly immobile and not easily able to switch production activities.
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SERVICE Activities that provide direct satisfaction of wants and needs without the production of tangible products or goods. Like the related term good, a service is produced using society's resources and represents a fundamental aspect of the economy. Limited resources are used to produce the services that satisfy unlimited wants and needs in an ongoing effort to address the problem of scarcity.
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Okun's Law posits that the unemployment rate increases by 1% for every 2% gap between real GDP and full-employment real GDP.
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"The way employees treat customers reflects the manner in which they're treated by management. " -- James Perkins, president, Cornell University
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M3
M2 plus investment types of near monies, including large denomination certificates of deposits, institutional money market deposits, and longer term repurchase agreements and Eurodollars
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