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LEAKAGE: A non-consumption uses of income, including saving, taxes, and imports. Leakages are combined with injections in the injection-leakage model used to identify equilibrium aggregate output in Keynesian economics. The notion of leakage is best viewed through the circular flow, in which saving, taxes, and imports are "leaked" out of the main flow between output, factor payments, national income, and consumption.
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STATISTICAL DISCREPANCY The official adjustment factor in the National Income and Product Accounts that ensures equality between the income and expenditures approaches to measuring gross domestic product. This is one of several differences between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). It is also the key difference between gross domestic income and gross domestic product. This statistical discrepancy tends to be relatively small, usually less than 1 percent of gross domestic product.
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BLACK DISMALAPOD
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Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for a thesaurus filled with typos.
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John Maynard Keynes was born the same year Karl Marx died.
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"Whenever you see a successful business, someone once made a courageous decision." -- Peter F. Drucker, business strategist
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CAP
Common Agricultural Policy
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