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WEALTH PYRAMID: A handy technique that many get-rich-quick schemes use to transfer a little wealth from a lot of people into the overflowing pockets of a few. In works in this manner--A person or business establishes a multi-level pyramid of investors, employees, or "distributors." Each level is responsible for recruiting the next level beneath it. The trick is that each distributor at one level recruits several distributors into the next lower level in an ever-expanding fashion. Each recruit transfers a little, teeny, tiny bit of their own wealth to the next higher level. In that each higher level has fewer members, that little, teeny, tiny bit of wealth accumulates rapidly, making those at the top incredibly well-off.
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Lesson 10: Gross Domestic Product | Unit 1: Measuring Production
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Economists use numerical measurements to indicate the health and well-being of the economy.- Economic diagnosis relies on several indicators.
- Gross domestic product is the most comprehensive measure of the economy's production and one of the most basic measures of the economy's well-being.
- Gross domestic product, as well as other economic measures, are indicators of our economic health.
A GDP Definition:Gross domestic product (GDP) is the total market value of all final goods and services produced in the economy in a given period of time, usually one year. - The goal of GDP is to measure the total production of goods and services produced in the economy each year.
- A larger GDP means that we have more goods and services that can be used to satisfy our unlimited wants and needs.
- The chart presents recent numbers for GDP in the United States.
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ASSUMPTIONS, KEYNESIAN ECONOMICS The macroeconomic study of Keynesian economics relies on three key assumptions--rigid prices, effective demand, and savings-investment determinants. First, rigid or inflexible prices prevent some markets from achieving equilibrium in the short run. Second, effective demand means that consumption expenditures are based on actual income, not full employment or equilibrium income. Lastly, important savings and investment determinants include income, expectations, and other influences beyond the interest rate. These three assumptions imply that the economy can achieve a short-run equilibrium at less than full-employment production.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a replacement nozzle for your shower or a decorative windchime with plastic . Be on the lookout for broken fingernail clippers.
Your Complete Scope
This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects. " -- Alexis de Tocqueville, statesman, author
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AAO
Authorized Acquisition Objective
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