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ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.
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FISCAL POLICY Control over government spending and taxes by a central government which is used to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States fiscal policy is primarily undertaken at the federal level through acts of Congress and actions by the President. However, state and local governments also undertake fiscal policy to stabilize their local macroeconomies. The government sector has three alternative tools in the use of fiscal policy--government purchases, taxes, and transfer payments. An alternative to fiscal policy is monetary policy.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"The truth is not for all men, but only for those who seek it. " -- Ayn Rand, writer
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DRR
Discounted Rate of Return
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