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OWNER-OCCUPIED HOUSING: Houses that are, quite simply, occupied by the owners. A person, or family, owns a house and lives in it. The contrast is with rental property, in which owners rent their houses out to others. Owner-occupied housing is important for the estimation of gross domestic product because it involves current production but has no market transactions. As such, the value of housing services have to be estimated before inclusion in gross domestic product.
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TAX WEDGE The difference between demand price and supply price that is created when a tax is imposed on a market. Placing a tax on a market disrupts what otherwise would be an equilibrium equality between demand price and supply price. A tax wedge results because the tax is included in the demand price paid by buyers but not in the supply price received by sellers. With standard demand (negative slope) and supply (positive slope) curves, the incidence of the tax (who pays) is divided between buyers and sellers.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market seeking to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for broken fingernail clippers.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy." -- Martin Luther King, Jr.
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ADV FRT
Advance Freight
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