### payment:

Salary
* Salaries are dependent on the skill level of the job, but all jobs pay at least minimum wage
  - much higher abroad, so mughteribiin are associated with wealth and luxury consumption
  - sensitive issues in Singapore, which has the world's highest paid government ministers
* Salaries are the price of services rendered by employees
  - responsibility of the employer and are determined by their wage structure
  - way most players keep track of one another
  - can often reflect the value society places on a given service or skill
* Salaries depend on both military rank and length of service
  - education and place of employment
  - job responsibilities, location, and hours of work
* Salaries depend on the economy, industry, job title, company size, tradition, and competition
  - institution for which one is working
  - part of the country, hours worked and type of nursing
  - type and place of employment and the level of preparation
* Salaries tend to be higher in areas with high living costs and lower where it's cheaper to live
  - vary with geographic regions and cost of living
  - vary widely in the private sector
* is fair compensation for services
  - just one of the elements of income
  - one component of job satisfaction and an important one, but only one
* is the responsibility of employers and is determined by their organization's wage structure
  - is determined by their wage structure
* means base salary on which pension contributions are taken.
* scales reward length of service and the accumulation of experience.

Spending
* are monetary transactions
  - payments
* is portrayed as an entitlement of young people.
* is the byproduct of total investment performance achieved
  - way they use to cope with frustrations and disappointments
  - what stimulates businesses to hire workers
  - when government signs the checks
* refers to the way children decide to use their money.

### payment | spending:

Capital spending
* has an important influence on an industry's performance and growth.
* is tracked on a statutory basis of accounting.

### payment | spending:

Consumer spending
* accounts for about two-thirds of the nation's economic activity
  - nearly two-thirds of the U.S. gross domestic product
  - three-fourths of all economic activity in the United States
* accounts for two-thirds of U.S. economic activity
  - all U.S. economic activity
* accounts for two-thirds of all economic activity and has helped buoy the economy
  - economic growth
* accounts for two-thirds of the nation's economic activity
* continues to outpace capital spending and exports as a source of economic growth.
* depends upon income.
* drives the economy, and consumer confidence is at a record high
* is helping offset the negative effects of the Asia crisis on our economy
  - high, particularly in the purchase of luxury items
  - the reflection of consumer confidence
* key to avoiding a recession.
* makes up about two-thirds of economic output
  - the American economy
* makes up two-thirds of all economic activity
* makes up two-thirds of the U.S. economy
  - economic activity in the nation
* tends to rise with consumer wealth, aiding spending.

Discretionary spending
* is usually where the most money is being wasted.
* is, by contrast, spending the government chooses to make.

Federal spending
* is comprised of expenditures in various categories.
* major contributor to the local economy as well.
* small part of America's total education spending.

Government spending
* accounts for two-thirds of economic activity.
* component of aggregate demand.
* determines prosperity or recession
  - the level of employment
* is another feature of economic growth
  - still the main engine driving the economy

Military spending
* contributes heavily to federal deficits.
* creates jobs.