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FAVORABLE BALANCE OF PAYMENTS: An imbalance in a nation's balance of payments in which payments made by the country are less than payments received by the country. This is also termed a balance of payments surplus. It's considered favorable because more currency is flowing into the country than is flowing out. Such an unequal flow of currency will expand the supply of money in the nation and subsequently cause a decrease in the exchange rate relative to the currencies of other nations. This then has implications for inflation, unemployment, production, and other facets of the domestic economy. A balance of trade surplus is often the source of a balance of payments surplus, but other payments can turn a balance of trade surplus into a balance of payments deficit.
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RISK NEUTRALITY A preference for risk in which a person is indifferent between guaranteed or certain income over risky income. Risk neutrality arises due to constant marginal utility of income. A risk neutral person has no preference for or against risk. This is one of three risk preferences. The other two are risk aversion and risk loving.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time surfing the Internet wanting to buy either a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki or decorative garden figurines. Be on the lookout for slightly overweight pizza delivery guys.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Laughter is the shortest distance between two people. " -- Victor Borge, musician, humorist
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