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INDIRECT BUSINESS TAXES: The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross/net domestic product (the market value of production). For further discussion of this point, see gross domestic product and national income or net domestic product and national income. Indirect business taxes, abbreviated IBT, is generally less than 10% of gross domestic product (7-8% is common).
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EXCHANGE RATE POLICIES Policies undertaken by domestic governments often in conjunction with international financial organizations to control exchange rates through foreign exchange markets. The three most common exchange rate policies are flexible exchange rates, fixed exchange rates, and managed flexible exchange rates. Flexible exchange rates are allowed to adjust through unrestrained forces of demand and supply in the foreign exchange market. Fixed exchange rates are established at a given level. Managed flexible exchange rates are allowed to change within boundaries, but subject to control if they change too much.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store trying to buy either a coffee cup commemorating the moon landing or a how-to book on surfing the Internet. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"It is not the mountain we conquer, but ourselves. " -- Sir Edmund Hillary, Explorer
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KCBT
Kansas City Board of Trade
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