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ELASTIC DEMAND: Relatively small changes in demand price cause relatively larger changes in quantity demanded. Elastic demand means that changes in the quantity demanded are relatively responsive to changes in the demand price. An elastic demand has a coefficient of elasticity greater than one (the negative value is ignored). You might want to compare elastic demand to inelastic demand, elastic supply, and inelastic supply.
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SEIGNIORAGE The difference between the face value, or value in exchange, of money and the cost of producing the money. This seigniorage is effectively the profit government generates from producing currency--printing paper bills or minting metal coins. That is, government effectively "makes money" by making money.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a bottle of blackcherry flavored spring water or a travel case for you toothbrush. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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This isn't me! What am I?
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"If you are going to achieve excellence in big things, you develop the habit in little matters. Excellence is not an exception, it is a prevailing attitude. " -- Colin Powell, general
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JFE
Journal of Financial Economics
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