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IEBNR: The abbreviation for income earned but not received. The three types of income earned but not received by the factors of production are Social Security taxes, corporate profits taxes, and undistributed corporate profits. In each case a factor of production has rightfully "earned" the income by contributing to valuable production contained in gross domestic product. However, because this income is not paid to the factor and it is not income received by the household sector. IEBNR is subtracted from national income to calculate personal income.
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Lesson 12: Business Cycles | Unit 3: Measurement
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Page: 14 of 26
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Coincident economic indicators move along with the aggregate economy. They mark the business cycle.- We don't know how the economy is doing until after the fact. Real GDP is released every three months. Coincident indicators are available monthly.
- The four coincident indicators are measures of production, employment, income, and sales.
- The Composite Index of Coincident Indicators, displayed in the graph, combines all four. Turns in this index mark business cycle peaks and troughs.
- Leading and coincident indicators work together. Leading indicators forecast turning points. Coincident indicators turn 3 to 12 months later.
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KEYNESIAN CROSS A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for the last item on a shelf.
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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JPAM
Journal of Policy Analysis and Management
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