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COINCIDENT ECONOMIC INDICATOR: One of four economic statistics that tend to move up and down with the expansions and contractions of the business cycle. You can get a pretty good idea of what our economy's doing RIGHT NOW by looking at these. Coincident economic indicators are measurements that move with the aggregate economy. When a contraction starts, these indicators decline. During an expansion. these indicators rise. These indicators, and their siblings, leading economic indicators and lagging economic indicators are compiled by their parents, those pointy-headed economist at National Bureau of Economic Research.
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Lesson 11: Circular Flow | Unit 2: Financial Markets
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Page: 10 of 22
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- The main function of financial markets, which is to divert national income from household consumption to business investment.
- The difference between the real or physical side of the economy (the production of goods that satisfy wants and needs) and the paper or financial side (legal claims on or ownership of physical resources, goods, and production).
- How income is diverted from legal-claim buyer to legal-claim seller through the financial markets.
- Why saving can be thought as a nonconsumption use of income, as making a loan, or as supplying income to the financial markets in exchange for a legal claim.
- Two basic reasons to save: (1) in return for an interest payment or (2) to accumulate income that can be spent later.
- Investment, which is business sector expenditures on gross domestic product for capital goods.
- How the business sector borrows income through financial markets and uses this income flow to finance capital investment.
- Why adding saving, investment, and financial markets does not change the total volume of the circular flow.
- That imbalances between saving and investment trigger economic stability, business cycles, unemployment, and inflation.
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INDIRECT BUSINESS TAXES The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). Indirect business taxes (IBT) is generally less than 10 percent of gross domestic product (7 to 8 percent is common).
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Old minds are like old horses; you must exercise them if you wish to keep them in working order. " -- John Adams, 2nd US president
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JHR
Journal of Human Resources
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