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FDA: The abbreviation for Food and Drug Administration, which is an agency of the U. S. Department of Health and Human Services that deals with the safety and effectiveness of food, cosmetics, drugs, and medical implements. It was formally established in 1906 to investigate and test what turned out to be some pretty dangerous and disgusting food additives that were being fed to an unaware public. The FDA is now charged with the task of keeping food and drugs free of hazardous additives and to ensure that they perform as promised. Drugs must undergo rigorous, lengthy tests on animals and humans to prove they're safe and effective.

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FIRST RULE OF SCARCITY: The first of seven basic rules of the economy. It is the fundamental fact of economic life that he world is faced with limited resources but unlimited wants and needs satisfied from these resources.

     See also | seven rules | scarcity | limited resources | unlimited wants and needs | satisfaction |


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LEAKAGES LINE

A graphical representation of the relation between the level of aggregate production and one or more leakages. The three leakages (non-consumption uses of the income generated from aggregate production) are saving, taxes, and imports. The leakages line sequentially adds, or layers, each of these three uses of income depending on the number of sectors used in the analysis (two, three, or four). The slope of the leakages line depends on which if any of the uses of income are induced by aggregate production. The leakages line is combined with the injections line (containing investment expenditures, government purchases, and exports) in the Keynesian injections-leakages model.

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GREEN LOGIGUIN
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Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for vindictive digital clocks with revenge on their minds.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those that fail. "

-- Napoleon Hill, author

NLREG
Nonlinear Statistical Regression
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