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RECOVERY: A early expansionary phase of the business cycle shortly after a contraction has ended, but before a full-blown expansion begins. During a recovery, the unemployment rate remains relatively high, but it is beginning to fall. Real gross domestic product has begun to increase, usually rapidly. However, because the contraction remains fresh in the minds of many, it may not be immediately clear that the trough of the contraction has been reached.
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GOVERNMENT BUREAUCRACIES Relatively complex government organizations that operate according to rules and procedures to implement the programs and policies of political leaders. A bureaucracy is a complex organization that usually contains hundreds or even thousands of employees, each with different duties and responsibilities. Bureaucracies exist in all types of organizations -- private, public, government, business, charities, corporations, even households. The study of public choice indicates that government bureaucracies are one source of government inefficiency. Other sources are politicians, voters, and special interest groups.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for letters from the Internal Revenue Service.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"A genius is a talented person who does his homework." -- Thomas Edison
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TC
Total Cost
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