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ADAM SMITH: A Scottish professor (born 1723, died 1790) who is considered the father of modern economics for his revolutionary book, entitled An Inquiry into the Nature and Causes of the Wealth of Nations published in 1776.
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GROSS NATIONAL PRODUCT The total market value of all final goods and services produced by the citizens of an economy during a given period of time, usually one year. Gross national product, often abbreviated simply as GNP, was once the official measure of how much output the U.S. economy produced. In the early 1990s, however, it was replaced by gross domestic product (GDP).
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"Nothing is a waste of time if you use the experience wisely. " -- Auguste Rodin, Sculptor
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NAIRU
Non-Accelerating Inflation Rate of Unemployment
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