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GOOD TYPES: We can identify four different types of goods based on two key characteristics -- rival consumption and excludability. Private that are rival in consumption and easily subject to the exclusion of nonpayers. Public goods that are nonrival in consumption and the exclusion of nonpayers is virtually impossible. Near-public goods that are nonrival in consumption and easily subject to the exclusion. Common-property goods that are rival in consumption and not easily subject to the exclusion.
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DURABLE GOODS, CONSUMPTION Personal consumption expenditures on tangible goods that tend to last for more than a year. Common examples are cars, furniture, and appliances. 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 nondurable goods and services. Durable goods are about 12 percent of personal consumption expenditures and 8 percent of gross domestic product.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Posterity: you will never know how much it has cost my generation to preserve your freedom. I hope you will make good use of it. " -- John Quincy Adams, 6th U. S. president
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MGF
Moment Generating Function
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