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DISCRETIONARY: A specific choice, act, or decision, often designed to achieve a particular goal. The term is commonly used in economics in reference to government policies, such as discretionary fiscal policy or discretionary monetary policy. In both examples, government undertakes explicit actions through changes in government spending, taxes, the money supply, or interest rates to stabilize the business cycle. Discretionary is also frequently used to modify income, spending, expenditures, or comparable terms to capture choices made over the use of income. Discretionary income, for example, is the amount of after-tax household income that can be used for either consumption spending or saving.
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STABLE EQUILIBRIUM Equilibrium that is restored if disrupted by an external force. Most economic models have equilibrium that is stable, reflecting the observation that the real world adapts to changes and maintains a fair degree of stability. The alternative to a stable equilibrium is an unstable equilibrium.
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PURPLE SMARPHIN
[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 pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for the happiest person in the room.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects. " -- Alexis de Tocqueville, statesman, author
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OSHA
Occupational Safety and Health Administration
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