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UNEMPLOYMENT: The general condition in which resources are willing and able to produce goods and services but are not engaged in productive activities. While unemployment is most commonly thought of in terms of labor, any of the other factors of production (capital, land, and entrepreneurship) can be unemployed as well. The analysis of unemployment, especially labor unemployment, goes hand-in-hand with the study of macroeconomics that emerged from the Great Depression of the 1930s.
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INDUCED GOVERNMENT PURCHASES Government purchases that depend on income or production (especially national income and gross domestic product). That is, changes in income induce changes in government purchases. Induced government purchases reflect the observation that the government sector (especially state and local governments) is inclined to use tax revenue, which increases with income, for purchases. They are measured by the marginal propensity for government purchases (MPG) and are reflected by the positive slope of government purchases line. The alternative to induced government purchases is autonomous government purchases, which do not depend on income.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale hoping to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for telephone calls from long-lost relatives.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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ERISA
Employee Retirement Income Security Act of 1974
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