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M1: The narrow-range monetary aggregate for the U.S. economy containing the combination of currency (and coins) issued by government and held by the nonbank public and checkable deposits issued by banking institutions. M1 contains the two items that function as THE medium of exchange for the U.S. economy. M1 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M2 and M3.

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CLOSED ECONOMY

An economy that does not engage in international trade or other forms of interaction with other countries. That is, a closed economy neither exports goods and services to, nor imports goods and services from, other economies that make up its foreign sector. It is "closed" to the flow of goods and services into or out of the country. The alternative to a closed economy is an open economy, one that does engage in international trade.

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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either clothing for your pet dog or an ink cartridge for your printer. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?

Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
"Each of us is issued but one life, and we know full well how it all ends. It would be regrettable to squander this one chance on someone else's appearance, someone else's experience. "

-- Joseph Brodsky, Writer

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