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.
Suppose the Fed sets money growth, %M, equal to 6% per year, the annual real economic growth, %Y, is 3% and that the income elasticity of money demand is 2/3. Then our prediction for inflation is given by: = %M - (2/3)*%Y = 6% - (2/3)*3% = 4%.e build a link between money growth and inflation through our model of money market equilibrium. In money market equilibrium, real money supply is equal to real money demand: M/P = L d (Y, i).