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NORMATIVE ECONOMICS: The branch of economics that states the way the economy should operate. A normative statement is based on values and can be proved neither right or wrong. While positive economics seeks to explain the way it is, normative economics, the policy side of economics, seeks to prescribe the way it should be. Normative economics is used to recommend ways to change the world, to improve it, and to make it a better place for both man and beast.
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LEADING ECONOMIC INDICATORS Ten economic statistics that tend to move up or down a few months BEFORE business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months before they occur. Leading economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and lagging economic indicators.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for telephone calls from long-lost relatives.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Learning is not compulsory, but neither is survival. " -- W. Edwards Deming, management consultant
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AAXICO
American Air Export and Import Company
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