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ACCOUNTING COST: The actual outlays or expenses incurred in production that shows up a firm's accounting statements or records. Accounting costs, while very important to accountants, company CEOs, shareholders, and the Internal Revenue Service, is only minimally important to economists. The reason is that economists are primarily interested in economic cost (also called opportunity cost). That fact is that accounting costs and economic costs aren't always the same. An opportunity or economic cost is the value of foregone production. Some economic costs, actually a lot of economic opportunity costs, never show up as accounting costs. Moreover, some accounting costs, while legal, bonified payments by a firm, are not associated with any sort of opportunity cost.
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COINCIDENT ECONOMIC INDICATORS Four economic statistics that tend to move up or down along WITH business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points when they actually occur. Coincident economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are leading economic indicators and lagging economic indicators.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store seeking to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for small children selling products door-to-door.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"In war, there is no second prize for the runner-up." -- Omar Bradley, US Army general
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AGI
Adjusted Gross Income
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