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PERSONAL INCOME: The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.
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QUANTITY SUPPLIED The specific quantity of a good that sellers are willing and able to sell at a specific supply price. The key word is "specific." Quantity supplied and supply price form matched pairs--one quantity, one price. The combination of all price-quantity pairs is then what constitutes supply. The supply curve is a plot of the quantity supplied at each supply price.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a remote controlled train set or a genuine down-filled snow parka. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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The portrait on the quarter is a more accurate likeness of George Washington than that on the dollar bill.
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"The only thing that will stop you from fulfilling your dreams is you. " -- Tom Bradley, former Los Angeles mayor
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QJE
Quarterly Journal of Economics
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