Each former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.ach former president receives the same salary as a current member of the Presidential Cabinet. For 2013, the amount was $199,700 per year. This number does not take into account the extras the former leader is entitled to including a $96,000 stipend for office staff payroll and free postage for life.
An economic surplus is also known as total welfare. An economic surplus is related to money, and it reflects a gain in the expected income from a product. There are two types of economic surplus: consumer surplus and producer surplus. Consumer surplus occurs when the price for a product or service is lower than the highest price the consumer would pay. For example, think of it like an auction: a buyer walks into an auction with a set price limit he or she will not exceed.
The measure compares the actual GDP (output) of an economy and the potential GDP (efficient output). When the economy is running an output gap, either positive or negative, it is thought to be running at an inefficient rate as the economy is either overworking or underworking its resources.Economic theory suggests that positive output gap will lead to inflation as production and labor costs rise. RELATED TERMS.hen the economy is running an output gap, either positive or negative, it is thought to be running at an inefficient rate as the economy is either overworking or underworking its resources. Economic theory suggests that positive output gap will lead to inflation as production and labor costs rise. RELATED TERMS.