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INCOME RECEIVED BUT NOT EARNED: Abbreviate IRBNE, this is income received by the household sector, but not earned by a factor of production. The three types of income received but not earned are Social Security payments, unemployment compensation payments, and welfare payments. These are also the three key transfer payments from the government sector to the household sector. The basic goal of transfer payments is to transfer a portion of the income earned by the factors of production (because they HAVE income) to other members of the household sector (who presumably NEED more income than they have). IRBNE is added to national income to derive personal income.
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SECOND-DEGREE PRICE DISCRIMINATION A form of price discrimination in which a seller charges different prices for different quantities of a good. This also goes by the name block pricing. Second-degree price discrimination is possible because decidedly different quantities are purchased by different types of buyers with different demand elasticities. This is one of three price discrimination degrees. The others are first-degree price discrimination and third-degree price discrimination.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs trying to buy either decorative celebrity figurines or a flower arrangement with anything but tulips for your grandfather. Be on the lookout for broken fingernail clippers.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"Give the American people a good cause, and there's nothing they can't lick. " -- John Wayne, actor
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GDP
Gross Domestic Product
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