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RENTAL INCOME OF PERSONS: The official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring rent earned by the household sector for supplying land and related services. This is one of five official factor payments making up national income. The other four are compensation of employees, net interest, corporate profits, and proprietors' income. Rental income of persons is typically the smallest of the five factor payment categories, usually less than 5% of national income.

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Lesson 11: Elasticity Basics | Unit 2: A Little More Page: 9 of 25

Topic: Why Study: Price Controls <=PAGE BACK | PAGE NEXT=>

  • Price controls take one of two forms -- price ceiling and price floor:

  • A price ceiling is a legally mandated maximum price imposed on a market. Buyers and sellers are prevented from exchanging the good at any price above the legal maximum.
  • A price floor is a legally mandated minimum price imposed on a market. Buyers and sellers are prevented from exchanging the good at any price below the legal minimum.
  • Both types of price controls tend to be more effective for inelastic demand and supply

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INFLATIONARY EXPECTATIONS, AGGREGATE EXPENDITURES DETERMINANT

One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. An increase in inflationary expectations causes an increase (upward shift) of the aggregate expenditures line. A decrease in inflationary expectations causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include interest rates, federal deficit, consumer confidence, and exchange rates.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs wanting to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for door-to-door salesmen.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
"Work is an extension of personality. It is achievement. It is one of the ways in which a person defines himself, measures his worth and his humanity. "

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