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September 23, 2023 

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OKUN'S LAW: A relationship that says that the gap between actual and full employment output level of gross domestic product widens by 3.0% for each percentage point increase in the unemployment rate. When Arthur Okun discovered this empirical relationship he was on President Kennedy's Council of Economic Advisers (CEA). Okun cautioned that the relationship was valid only within unemployment rates of 3% and 7.5%.

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ATTRACTIVE FORCE: A force that causes activities to locate closer together. One primary attractive force is transportation cost and the weight of an activity. In this case, activities locate close together to reduce transportation cost. Another is agglomeration and urban economies. In this case, activities locate close together to lower other production cost. Attractive forces are countered by dispersive forces, which act to force activities farther apart.

     See also | weight | transportation | weight gaining | weight losing | agglomeration economies | urbanization economies | competition along a line | location theory | dispersive force |


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ATTRACTIVE FORCE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2023. [Accessed: September 23, 2023].


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MARGINALLY-ATTACHED WORKERS

People who are willing and able to work, who have either held a job or searched for employment within the last year, but are not actively seeking employment. Discouraged workers, people who are willing and able to engage in productive activities, but due to their overwhelming lack of success believe that any effort to find a job will be fruitless so they have stopped seeking employment, fall within this broader category of marginally-attached workers. People can be marginally attached to the labor force for a variety of reasons, discouraged workers, in contrast, achieve their designation specifically because they believe search efforts are not worthwhile.

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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either a set of serrated steak knives, with durable plastic handles or a pair of blue silicon oven mitts. Be on the lookout for fairy dust that tastes like salt.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. "

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