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LABOR FORCE: The total number of people willing and able to exert mental and/or physical efforts in productive activities. In principle, this is everyone 16 years of age and over who is willing and able to work. In practice, it includes the sum of anyone over 16 years who is employed or unemployed but actively seeking a job. The labor force is essentially a more technical term for the economy's labor supply.
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FALLACY OF DIVISION The logical fallacy of arguing that what is true for the whole is also true for the parts. In the study of economics, this takes the form of assuming that what works for the aggregate, or macroeconomy, also works for parts of the economy, such as households or businesses. The contrasting fallacy is the fallacy of composition.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a wall poster commemorating the 2000 Presidential election or a rechargeable flashlight. Be on the lookout for high interest rates.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"The difference between a successful person and others is not a lack of strength, not a lack of knowledge, but rather a lack of will. " -- Vince Lombardi
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PPP
Purchasing Power Parity
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