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PERSONAL INCOME AND NATIONAL INCOME: Personal income (PI) is the total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time. National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production, which may or may not be received by members of the household sector. Personal income can be derived from national income by subtracting income earned but not received (IEBNR) and adding income received but not earned (IRBNE).
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FREE GOOD A good that provides satisfaction of wants and needs without imposing an opportunity cost on society by preventing the production or consumption of other consumer-satisfying goods or services. Production using free goods is generally undertaken using free resources.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for telephone calls from long-lost relatives.
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This isn't me! What am I?
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"The secret of a good memory is attention, and attention to a subject depends upon our interest in it. We rarely forget that which has made a deep impression on our minds. " -- Tyron Edwards, theologian
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OPBU
Operating Budget
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