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BALANCE OF TRADE: The difference between funds received by a country when exporting merchandise and the funds paid for importing merchandise. The balance of trade is a major part of the current accounts portion of the balance of payments. A balance of trade surplus results if exports exceed imports, commonly termed a favorable balance of trade, and a balance of trade deficit exists if imports exceed exports, analogously termed an unfavorable balance of trade. The "favorable" and "unfavorable" normative connotations attached to the balance of trade rests with the presumption that a nation is "better off" when it exports more than it imports, which is not necessarily true.
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CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS An index of prices of goods and services typically purchased by urban consumers. The Consumer Price Index for All Urban Consumers (CPI-U) is the official name for the Consumer Price Index (CPI) commonly reported in the media. It is compiled and published monthly by the Bureau of Labor Statistics (BLS), using price data obtained from an elaborate survey of 25,000 retail outlets and quantity data generated by the Consumer Expenditures Survey. The CPI-U is so designated to differentiate it from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for the last item on a shelf.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. " -- Seneca, statesman, dramatist, philosopher
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LCH
Life Cycle Hypothesis
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