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ECONOMIC GOALS: The five basic conditions of the mixed economy that are generally desired by society. We typically divide these five into macro goals (full employment, stability and economic growth) and micro goals (efficiency and equity).
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IMPLEMENTATION LAG The time lag that occurs after a government policy designed to correct an economic problem has been selected and the actual execution of the policy. The implementation lag is based the time it takes for government agencies, which can be slow and methodical, to carry out the designated policy. This "inside lag" is one of four policy lags associated with monetary and fiscal policy. The other two "inside lags" are recognition lag and decision 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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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a solid oak entertainment center or a remote controlled ceiling fan. Be on the lookout for letters from the Internal Revenue Service.
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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ATS
Automatic Transfer Service
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