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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.

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AUTONOMOUS GOVERNMENT PURCHASES

Government purchases by the government sector that do not depend on income or production (especially national income or gross domestic product). That is, changes in income do not generate changes in government purchases. Autonomous government purchases are best thought of as government purchases that the government sector undertake independent of income. They are measured by the intercept term of the government purchases line. The alternative to autonomous government purchases is induced government purchases, which do depend on income.

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APLS

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Today, you are likely to spend a great deal of time at a flea market hoping to buy either a 50 foot extension cord or a combination CD player, clock radio, and telephone (with answering machine). Be on the lookout for slightly overweight pizza delivery guys.
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One of the largest markets for gold in the United States is the manufacturing of class rings.
"Divide each difficulty into as many parts as is feasible and necessary to resolve it."

-- Rene Descartes

NBER
National Bureau of Economic Research
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