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CIVILIAN LABOR FORCE: Everyone in the economy, 16 years of age or older, who is neither institutionalized nor in the military, and is either employed or unemployed but actively seeking employment. The civilian labor force is the "official" specification for the national economy's labor supply. It is used for such calculations as the unemployment rate and the labor force participation rate. In particular, the unemployment rate is technically specified as the "percent of the civilian labor force that is unemployed." The size of the civilian labor force (along with the wildly popular unemployment rate) is estimated monthly by the Bureau of Labor Statistics (BLS) from data generated by the Current Population Survey (CPS).
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FREE GOOD A good that provides satisfaction of wants and needs without imposing an opportunity cost on society by preventing the production or consumption of other consumer-satisfying goods or services. Production using free goods is generally undertaken using free resources.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials looking to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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In the early 1900s around 300 automobile companies operated in the United States.
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"Adversity is another way to measure the greatness of individuals. I never had a crisis that didn't make me stronger. " -- Lou Holtz, Football Coach
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MFN
Most-Favoured Nation
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