INDEX

Income, enjoyment, cannot bemeasured directly, 5; deter-mines our choice of present,or of future goods and income,63; determines price paid tomanufacturer, to jobber, whole-saler, and retailer, 64-65; theend of production loans, 453-454; involves no interest,326$.; one of three stages ofincome, 7; ultimate fact, 331-332; and labor pain, the onlyuncancelled items of incomeand outgo, 20-21.

Income, money, and enjoyment,contrasted, 457-458; and real,differentiated, 10-11; includesall money intended for spend-ing, 10; the measure of enjoy-ment income, 453.

Income stream, affects borrow-ing and lending, 250$.; affectsimpatience, 67, 92-94, 294$.;altered by loans, 106-112; as-sumed to flow spontaneously,102; changed to any desiredshape by borrowing and lend-ing (selling and buying), 113;depicted, 29-31; effect of, onimpatience, and interest, 378-381; effects of changing, uponimpatience, 73-75; fixed, yieldszero interest, 184-191; fixity of,illustrated, 185-191; choice of,148; includes all services, 454;changes shown on charts, 107-111; modified by borrowingand lending (selling and buy-ing), 102-148; modified by in-vestment opportunity, 127$. ;modified through varying useof labor, 200-202; optionsamong, 128$.; optional, choiceof by individual, determinedby interest rate, 143$.; op-tional, choice of by society,determines interest rate, 143$.;

plus and minus items of, mustbalance, 122, 123, 149; and pro-ductivity, 469; relation of, tocapital and interest, 454; rela-tion of, to interest, expressedby equations, 290; seasonalchanges in, vary interest rates,394; shape of, variable at will,135$.; size of, determineschoice of uses, 133$.; timeshape of, shown by charts, 29-30; variations in, cause inter-est rates to vary, 299-301,302-315; variations in, offersinvestment opportunities, 135-149.

Income streams, distortion of, byinvention, 341-347; increasing,examples of, in United States, 384-386; optional, compared,130$.; rising, mean high inter-est rates, 384-391; time shapeof, most important, 130$.

Income value, 457.

Index Numbers. See Price index,wholesale. '

India, interest rates in, 375, 524;interest rates and prices in,wholesale, 524, 529.

Indians, characteristics of, makehigh interest rates, 375-376.

Ingo, a substitute for outgo, 19w.

Institutions, effects of, on inter-est, 487-491; existence of, ac-cords with impatience andopportunity, 489-491.

Insurance company investments,389-390.

Interactions (intermediate serv-ices), 326-328.

Instruments, durability of, andinterest rates, 374.

Interest, accrued, not incomeuntil realized and spent, 26; acompensation for waiting, 52;as a cost, fallacy of, 57-58;depends upon value produc-