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GDI: The abbreviation for gross domestic income, which is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year, as calculated using the income approach to measuring gross domestic product. Gross domestic income is virtually identical to gross domestic product (GDP), with one minor difference, the statistical discrepancy. As a matter of fact, the statistical discrepancy is identified as the difference between GDP and GDI.

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EXOGENOUS VARIABLE: A variable that is identified outside the workings of the model. Also termed an independent variable, an exogenous variable is in essence the "input" of the model. It should be compared with an endogenous variable this is the "output" of the model.

     See also | variable | model | endogenous variable | economic analysis | comparative statics | abstraction |


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CARDINAL UTILITY

The notion that utility--the satisfaction of wants and needs achieved through the consumption of goods and services--can be measured with numerical values (1, 2, 3, etc.) that are based on a benchmark scale. Cardinal utility presumes that satisfaction is a measurable characteristic of a person, like height or weight. The contrasting notion is ordinal utility, which is based on a ranking of preferences.

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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
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