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HARD PEG: Establishing a fixed exchange rate between one national currency (usually that of a small country) and another national currency (usually that of an industrial power). One country, in other words, "pegs" the value of its currency to the value of another currency. This is commonly done by countries with a history of monetary instability is used as a means of restoring and maintaining order. This U.S. dollar is frequently used for a hard peg by other smaller nations. The result of a hard peg is to eliminate control by the pegging nation and relying on the actions of the targeting nation.
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AVERAGE FACTOR COST, PERFECT COMPETITION Total factor cost per unit of factor input employed by a perfectly competitive firm in the production of output, found by dividing total factor cost by the quantity of factor input. Average factor cost, abbreviated AFC, is generally equal to the factor price. However, using the longer term average factor cost makes it easier to see the connection to related terms, including total factor cost and marginal factor cost.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a T-shirt commemorating the first day of spring or a coffee cup commemorating last Friday (you know why). Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"It takes generosity to discover the whole through others. If you realize you are only a violin, you can open yourself up to the world by playing your role in the concert. " -- Jacques Yves Cousteau, marine explorer
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T-BOND
Treasury Bond
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