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GOVERNMENT PURCHASES: Expenditures on final goods and services (that is, gross domestic product) undertaken by the government sector. Government purchases are used to operate the government (administrative salaries, etc.) and to provide public goods (national defense, highways, etc.). Government purchases do not include other government spending for transfer payments. These are expenditures on final goods by all three levels of government: federal, state, and local governments. Government purchases are financed by a mix of taxes and borrowing.
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NEEDS STANDARD An income distribution standard in which income is divided among members of society based on how much production each person requires to maintain a given living standard. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the contributive standard and the equality standard.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"The greatest barrier to success is the fear of failure." -- Sven Goran Eriksson, writer
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AFBD
Association of Futures Brokers and Dealers (UK)
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