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SEVENTH RULE OF COMPLEXITY: The seventh of seven basic rules of the economy. It is the observation that the world is complex, that every action has direct and often intended consequences and indirect and probably unintended effects (that is, cause and effect). A few of the more noted illustrations of this seventh rule are the circular flow (especially the expenditure multiplier) and market failures (especially externalities).
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NONDURABLE GOODS, CONSUMPTION Personal consumption expenditures on tangible goods that tend to last for less than a year. Common examples are food, clothing, and gasoline. 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 and services. Nondurable goods are about 30 percent of personal consumption expenditures and 20 percent of gross domestic product.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either yellow cotton balls or a set of steel-belted radial snow tires. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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LRAC
Long Run Average Cost
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