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PERSONAL INCOME: The total income received by the members of the domestic household sector, which may or may not be earned from productive activities during a given period of time, usually one year. The primary use of personal income is to measure the income actually paid out to the household sector. After adjusting for income taxes, personal income forms the basis for consumption expenditures on gross domestic product.
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Lesson 2: Economic Science | Unit 4: Science and Practice
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Page: 15 of 20
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Last verification. Data collected for 50 students in an economics class.- 3 of 6 As--1st row, 7 of 11 Bs--2nd row, 9 of 21 Cs--3rd row, 4 of 7 Ds--4th row, 4 of 5 Fs--5th row.
- 3 of 7 in 1st row--As, 7 of 11 in 2nd--Bs, 9 of 12 in 3rd row--Cs, 4 of 10 in 4th row--Ds, 4 of 10 in 5th row--Fs.
Results:- There appears to be a relationship between course grade and seat position.
- There is no evidence to suggest that our hypothesis is false.
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DECISION LAG The time lag that it takes government leaders and policy makers to determine the appropriate government action needed to address an economic problem. The decision lag arises because it takes time for policy makers to chose among the array of possible policy actions, each with assorted consequences that appeal differently to different political constituencies. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and implementation lag, and one "outside lag" is implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store looking to buy either a coffee cup commemorating the first day of winter or a video game player. Be on the lookout for neighborhood pets, especially belligerent parrots.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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LSE
London Stock Exchange
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