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RATIONAL BEHAVIOR: The notion that people make decisions based on the desire to obtain the greatest amount of satisfaction. Rational behavior essential means that people prefer more to less. The presumption of rational behavior underlies most economic analyses, especially those applied to consumer demand theory.

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GROSS PRIVATE DOMESTIC INVESTMENT: Expenditures on capital goods to be used for productive activities in the domestic economy that are undertaken by the business sector during a given time period. This is the official item in the National Income and Product Accounts maintained by the Bureau of Economic Analysis measuring capital investment expenditures. Gross private domestic investment tends to be the least stable of the four expenditures, averaging between 12-18% of gross domestic product.

     See also | investment | investment expenditures | business sector | National Income and Product Accounts | Bureau of Economic Analysis | gross domestic product | gross domestic product, expenditures | aggregate expenditures | business cycle | investment business cycle | personal consumption expenditures | government consumption expenditures and gross investment | net exports of goods and services |


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GROSS PRIVATE DOMESTIC INVESTMENT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: January 23, 2019].


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LABOR FORCE

The total number of people in an economy, society, or country willing and able to exert mental and/or physical efforts in productive activities. The labor force is a more technical term for the labor resource or labor supply. It includes both employed workers and unemployed workers. An official variation of this term is civilian labor force. While labor force may or may not include military personnel, the civilian labor force explicitly excludes the military. Labor and labor resources are the theoretical terms that economists like to banter about. Labor force and civilian labor force are the terms of choice for government policy makers, data-crunchers, and others who need precise labor resource numbers.

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Today, you are likely to spend a great deal of time at a flea market wanting to buy either a birthday gift for your mother or a weathervane with a horse on top. Be on the lookout for rusty deck screws.
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