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November 27, 2025 

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QUASI-PUBLIC CORPORATION: A business activity that is privately controlled, but authorized by government legislation. The Federal National Mortgage Association is one example. Quasi-public corporations are set up when governments expand their activities and/or divest themselves of current government functions. Quasi-public corporations often result because governments seek to promote a particular activity, such as student loans, low cost home mortgages, or lotteries, but do not want the administrative burden.

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INCOME RECEIVED BUT NOT EARNED

The three types of income received but not earned (IRBNE) are Social Security payments, unemployment compensation payments, and welfare payments. These are three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time watching the shopping channel looking to buy either a rechargeable flashlight or storage boxes for your computer software CDs. Be on the lookout for high interest rates.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things. "

-- Elinor Smith, aviator

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