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POLITICAL BUSINESS CYCLE: The notion that a business cycle is caused by elected government leaders who manipulate the economy to achieve personal political goals -- that is, to remain in office. The leaders stimulate the economy leading up to an election, creating a business-cycle expansion that ensures (they hope) their re-election, then induce a business-cycle contraction after the election to correct problems created by pre-election stimulation.
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TAX INCIDENCE The portion of a tax paid by each side of a market based on differences in the pre-tax equilibrium price and the after-tax demand price and supply price. Because a tax drives a wedge between demand price and supply price, the incidence or burden of a tax typically falls on both buyers and sellers. How much each side pays depends on the relative price elasticity of demand and supply. Buyers pay the entire tax only in the case of a perfectly elastic supply or perfectly inelastic demand. Sellers pay the entire tax only in the case of a perfectly elastic demand or perfectly inelastic supply.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers hoping to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Stand up to your obstacles and do something about them. You will find that they haven't half the strength you think they have." -- Norman Vincent Peale
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LTFV
Less Than Fair Value
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