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SERVICES, CONSUMPTION: Personal consumption expenditures on activities that provide direct satisfaction of wants and needs without the production of tangible goods. Common examples are information, entertainment, and education. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are durable goods (see durable goods, consumption) and nondurable goods (see nondurable goods, consumption). Services are about 60% of personal consumption expenditures and 40% of gross domestic product.
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BALANCE ON MERCHANDISE TRADE A subset of the balance of payments current account that records the difference between the payments received for exports of goods to other nations and the payments made for the imports of goods from other nations. The goods included are physical or tangible goods, but not intangible services. The balance on merchandise trade is thus appropriately divided into merchandise exported and merchandise imported. Two other subsets of the current account include the balance on services 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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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club hoping to buy either a Boston Red Sox baseball cap or a square lamp shade with frills along the bottom. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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ERISA
Employee Retirement Income Security Act of 1974
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