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TRANS-SHIPMENT POINT: A location that serves as a change from one transportation mode to another, such as from boat to train or truck to plane. Location theory indicates that trans-shipment points serve as a point of attraction for economic activity by virtue of saving terminal (load and unloading) cost. This indicates why harbors, interstate highway exits, railroad depots, and similar off-one-mode-onto-another-mode have historical emerged as economic centers.
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for slightly overweight pizza delivery guys.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Time is the scarcest resource, and unless it is managed nothing else can be managed." -- Peter F. Drucker
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BOJ
Bank of Japan
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