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GOVERNMENT PURCHASES OF GOODS AND SERVICES: Expenditures on final goods and services (that is, gross domestic product) undertaken by the government sector. The official entry for government purchases in the National Income and Product Accounts maintained by the Bureau of Economic Analysis is termed government consumption expenditures and gross investment. Government purchases are used to operate the government (administrative salaries, etc.) and to provide public goods (national defense, highways, etc.). Government purchases do not include other government spending for transfer payments. These are expenditures on final goods by all three levels of government: federal, state, and local governments.
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AUTONOMOUS CONSUMPTION Household consumption expenditures that do not depend on income or production (especially disposable income, national income, or even gross domestic product). That is, changes in income do not generate changes in consumption. Autonomous consumption is best thought of as a baseline or minimum level of consumption that the household sector undertakes in the unlikely event that income falls to zero. It is measured by the intercept term of the consumption function or the consumption line. The alternative to autonomous consumption is induced consumption, which does depend on income.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time at a flea market trying to buy either a pair of red and purple designer socks or a T-shirt commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for neighborhood pets, especially belligerent parrots.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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TSE
Toronto Stock Exchange
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