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DPI: The abbreviation for disposable personal income, which is the total income that can be used by the household sector for either consumption or saving during a given period of time, usually one year. This is the income left over after income taxes and social security taxes are removed and government transfer payments, like welfare, social security benefits, or unemployment compensation are added. Because consumption and saving are important to our economy for short-run stability and long-run growth, pointy-headed economists like to keep a close eye on disposable personal income. Disposable personal income is reported quarterly (every three months) in the National Income and Product Accounts maintained by the Bureau of Economic Analysis.

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Lesson 17: Money | Unit 4: Money's History Page: 21 of 25

Topic: Electronic Money <=PAGE BACK | PAGE NEXT=>

Computers reduce the use of paper currency and checks.
  • Electronic money is another logical step in the historical progression of money.
  • Modern checking accounts are little more than digital information.
  • The trend is toward accessing information directly with computers, including ATM machines, point-of-purchase terminals in stores, and home computers.

Electronic money:

  • It fits two of the four characteristics of money: easy to transport and completely divisible.
  • The other two characteristics raise questions:
    • Counterfeitable: Electronic money could be the easiest or the hardest money to counterfeit.
    • Durability: This depends on the stability of the government and the banking system.

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AUTONOMOUS EXPENDITURES

Expenditures on aggregate production by the four macroeconomic sectors that do not depend on income or production (especially national income or even gross domestic product). That is, changes in income do not generate changes in these expenditures. Each of the four aggregate expenditures--consumption, investment expenditures, government purchases, and net exports--have an autonomous component. Autonomous expenditures are affected by the ceteris paribus aggregate expenditures determinants and are measured by the intercept term of the aggregate expenditures line. The alternative to autonomous expenditures are induced expenditures, expenditures which do depend on income.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?

The word "fiscal" is derived from a Latin word meaning "moneybag."
"Anyone who has never made a mistake has never tried anything new. "

-- Albert Einstein, physicist

WPO
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