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ACTION LAG: In the context of economic policies, a part of the implementation lag involving the time it takes for appropriate policies to be launched once they have been agreed to by policy makers. Another part of the implementation lag is the decision lag. For fiscal policy, this involves appropriating funds to government agencies (for government spending) or changing the tax code (for taxes) For monetary policy, this involves the buying and selling government securities in the open market. The action lag is usually shorter for monetary policy than fiscal policy.
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FLEXIBLE EXCHANGE RATE An exchange rate determined through the unrestricted interaction of supply and demand in the foreign exchange market. Also termed floating exchange rate, this is one of three basic exchange rate policies used by domestic governments to control their exchange rates with the goal of affecting international trade, balance of trade, and balance of payments. This policy is based on the view that the free interplay of market forces is most likely to generate a desireable pattern of international trade. The other two policies are fixed exchange rate and managed flexible exchange rate.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for neighborhood pets, especially belligerent parrots.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"A stumble may prevent a fall. " -- Margaret Thatcher, British prime minister
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FSL
Federal Savings and Loan Association
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