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UNDISTRIBUTED CORPORATE PROFITS: Commonly termed retained earnings, these are corporate profits that are neither paid as corporate profits taxes nor paid to shareholders as dividends. Undistributed corporate profits are important for the derivation of personal income from national income. Because undistributed corporate profits are income that is earned by the shareholders, but not received, it falls in the general category of income earned but not received (IEBNR), and is subtracted from national income in the derivation of personal income.

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COMPLEMENT-IN-CONSUMPTION: One of two goods that are consumed together to provide satisfaction -- that is, the goods are used jointly to satisfy wants and needs. A complement good is one of two alternatives falling within the other prices determinant of demand. The other is a substitute good. An increase in the price of one complement good causes a decrease in demand for the other. A complement good has a negative cross price elasticity. When the terms complements or complement goods are used, they typically means complement-in-consumption (compare this with complement-in-production). Examples of complement goods are golf clubs and golf balls; hamburgers and french fries; and cars and gasoline. In each case, the two goods "go together." People seldom use or consume one without the other.

     See also | complement | demand | consumption | demand curve | other prices | demand shock | demand determinants | cross elasticity of demand | complement-in-production |


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UNEMPLOYMENT

The general condition in which resources are willing and able to produce goods and services but are not engaged in productive activities. While unemployment is most commonly thought of in terms of labor, any of the other factors of production (capital, land, and entrepreneurship) can be unemployed. The analysis of unemployment, especially labor unemployment, goes hand-in-hand with the study of macroeconomics that emerged from the Great Depression of the 1930s. The most common measure of unemployment is the unemployment rate of labor. Unemployment is one of two primary macroeconomic problems. The other is inflation.

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