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NATIONAL BUREAU OF ECONOMIC RESEARCH: A private, nonprofit, nonpartisan organization established in 1920 that promotes research into, and an understanding of, the workings of the economy. In addition to a relative small in-house staff (a few dozen), the National Bureau of Economic Research (NBER) includes several hundred of the best and the brightest economic professors at major universities as NBER researchers. At last count, a dozen Nobel Prize winners have included the title of NBER researcher on their resumes. The NBER sponsors research on assorted topics, including the development of quantitative economic measures and the analysis of public policies.
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ALLOCATION The process of distributing resources for the production of goods and services, and of distributing goods and services for the satisfaction of wants and needs and human consumption. This allocation process is an essential part of an economy's effort to address the problem of scarcity.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for high interest rates.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"It has been my philosophy of life that difficulties vanish when faced boldly. " -- Isaac Asimov
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JLE
Journal of Law and Economics
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