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REAL WAGE: The inflation-adjusted purchasing power of the nominal wage. The real wage is commonly derived by dividing the nominal wage by the price level, indicates the physical quantities of goods and service that can be purchased with the nominal wage.
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NEEDS The physiological or biological requirements for maintaining life, such as air, water, food, shelter, and sleep. Physiological needs are often contrasted with psychological wants that make life more enjoyable, but are not essential for existence.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store seeking to buy either a flower arrangement with a lot of roses for your grandmother or a wall poster commemorating the first day of winter. Be on the lookout for door-to-door salesmen.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"Most human beings have an almost infinite capacity for taking things for granted. " -- Aldous Huxley, writer
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CME
Chicago Mercantile Exchange
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