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JOBLESS CLAIMS: The number of people filing for the first time to receive unemployment compensation benefits during a given time period, usually one week. Jobless claims are key indicator of current economic activity and are one of twelve leading economic indicators that forecast business cycle activity. A rise in jobless claims is a clear indication that fewer people are employed, the unemployment rate is on the rise, and the economy is headed into a contraction.

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Lesson 12: Elasticity and Demand | Unit 4: Determinants Page: 20 of 25

Topic: Budget Proportion <=PAGE BACK | PAGE NEXT=>

  • Demand elasticity also depends on how much of their budgets buyers devote to a given good.

    • Demand tends to be relatively inelastic for goods the comprise a smaller budget proportion. A smaller budget share reduces the incentive to switch between substitutes.

    • Demand tends to be relatively elastic for goods the comprise a larger budget proportion. A larger budget share increases the incentive to switch between substitutes.

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PERSONAL TAX AND NONTAX PAYMENTS

The official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time flipping through the yellow pages seeking to buy either semi-gloss photo paper that works with your neighbor's printer or a birthday gift for your father that doesn't look like every other birthday gift for your father. Be on the lookout for a thesaurus filled with typos.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
"It is very rare that you meet with obstacles in this world (that) the humblest man has not the faculties to surmount. "

-- Henry David Thoreau, philosopher

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