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WHOLESALE PRICE INDEX: An index of the prices paid by retail stores for the products they would ultimately resell to consumers. The Wholesale Price Index, abbreviated WPI, was the forerunner of the modern Producer Price Index (PPI). The WPI was first published in 1902, and was one of the more important economic indicators available to policy makers until it was replaced by the PPI in 1978. The change to Producer Price Index in 1978 reflected, as much as a name change, a change in focus of this index away from the limited wholesaler-to-retailer transaction to encompass all stages of production. While the WPI is no longer available, the family of producer price indexes provides a close counterpart in the Finished Goods Price Index.
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FINANCIAL MARKETS Markets that exchange financial instruments, or the legal claims to the ownership of physical assets. All four sectors--household, business, government, and foreign operate on both the demand and supply sides of financial markets. The household sector is generally a net buyer of legal claims as it saves a portion of income. The business and government sector tend to be net sellers as they borrow the funds used to pay for expenditures. The study of macroeconomics is concerned with how the flow of income through financial markets affects short-run business-cycle instability and long-run economic growth. The financial markets are one of three primary sets of macroeconomic markets. The other two are product markets and resource markets.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a replacement remote control for your stereo system or a computer that can play video games and burn DVDs. Be on the lookout for door-to-door salesmen.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"There is more to life than increasing its speed. " -- Mohandas Gandhi, activist
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FIML
Full Information Maximum Likelihood
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