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TRANSFERRABLE INPUT: An input that has a relatively large geographic market area due to the low cost of transportation. The low transportation cost means it is easier (that is, less expensive) to bring the input to the production activity rather than locating the production activity near the input. Like many things, transferrable inputs are a matter of degree. At the other end of the spectrum lies local inputs. Most manufactured intermediate goods tend to have a high degree of transferability. Information and energy inputs are also relatively easily transported.

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Lesson 10: Gross Domestic Product | Unit 4: Measuring Income Page: 21 of 25

Topic: IRBNE <=PAGE BACK | PAGE NEXT=>

Income received by households but not earned by the factors of production (IRBNE) is added to national income to derive personal income. IRBNE are transfer payments.
  • Households without factors of production receive income through transfer payments such as:
    1. Social Security benefits.
    2. Welfare payments.
    3. Unemployment compensation.
  • To calculate personal income, income earned but not received (IEBNR) is subtracted from and income received but not earned (IRBNE) is added to national income.

PI = NI - IEBNR + IRBNE


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FEDERAL RESERVE DISTRICTS

The 12 geographic areas of the United States that form the administrative division of the Federal Reserve System. Each of the 12 Districts is headed by a Federal Reserve District Bank and is generally designated by the Reserve Bank City--Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco. Federal Reserve Branch Banks are located in 10 of the 12 Districts.

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GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for defective microphones.
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This isn't me! What am I?

Lombard Street is London's equivalent of New York's Wall Street.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

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