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ABSOLUTE POVERTY: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer relative poverty.
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FRICTIONAL UNEMPLOYMENT Unemployment attributable to the time required to match production activities with qualified resources. Frictional unemployment essentially occurs because resources, especially labor, are in the process of moving from one production activity to another. Employers are seeking workers and workers are seeking employment, the two sides just have not matched up. This mismatch is largely the result of limited information, which is often compounded by geographic separation between producers and resources. Frictional unemployment is one of four unemployment sources. The other three are cyclical unemployment, seasonal unemployment, and structural unemployment. Frictional and structural unemployment are the two components of natural unemployment.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a remote controlled ceiling fan or a how-to book on home decorating. Be on the lookout for vindictive digital clocks with revenge on their minds.
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More money is spent on gardening than on any other hobby.
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"What you get by achieving your goals is not as important as what you become by achieving your goals." -- Zig Ziglar
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MGE
Minneapolis Grain Exchange
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