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RENT: Factor payments to the owners of land for using the various resources of land in the production of goods and services. Rent is included in the National Income and Product Accounts maintained by the Bureau of Economic Analysis under the official title rental income of person. Rent is typically the smallest of the four factor payments, accounting for less than 5% of the income earned by the household sector.

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Lesson 12: Business Cycles | Unit 3: Measurement Page: 15 of 26

Topic: Lagging <=PAGE BACK | PAGE NEXT=>

Lagging economic indicators lag the turning points of business cycles by 3 to 12 months.
  • Lagging indicators 'seal the deal' by certifying that a contraction or an expansion is over.
  • The next turning point usually doesn't begin until lagging indicators confirm that the last one has happened.
  • Seven statistics are used as lagging indicators, including in the inflation rate, consumer debt, and the prime interest rate.
  • The Composite Index of Lagging Indicators, displayed in this graph, combines all seven into a single number. This index turns after the official business cycle.

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COMPLEMENT GOOD

In general, one of two (or more) goods that are related in a joint manner. In terms of demand, complement goods are those that provide satisfaction of a want or need when consumed together. In terms of supply, complement goods are those that are simultaneously produced using a given resource. A complement good is one of two ways that goods are related. The other is a substitute good.

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Today, you are likely to spend a great deal of time at a garage sale trying to buy either blue cotton balls or a genuine down-filled pillow. Be on the lookout for mail order catalogs with hidden messages.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
"If things are not going well with you, begin your effort at correcting the situation by carefully examining the service you are rendering, and especially the spirit in which you are rendering it."

-- Roger Babson, statistician and columnist

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