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UNDISTRIBUTED CORPORATE PROFITS: Commonly termed retained earnings, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.
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CONSUMPTION FUNCTION A mathematical relation between consumption and income by the household sector. The consumption function can be stated as an equation, usually a simple linear equation, or as a diagram designated as the consumption line. This function captures the consumption-income relation that forms one of the key building blocks for Keynesian economics. The two key parameters of the consumption function are the intercept term, which indicates autonomous consumption, and the slope, which is the marginal propensity to consume and indicates induced consumption. Aggregate expenditures used in Keynesian economics are derived by adding investment, government purchases, and net exports to the consumption function.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for telephone calls from long-lost relatives.
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Lombard Street is London's equivalent of New York's Wall Street.
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"Rowing harder doesn't help if the boat is headed in the wrong direction. " -- Kenichi Ohmae, management consultant
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GDI
Gross Domestic Income
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