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QUANTITY THEORY OF MONEY: A theory that states a given percentage change in the money supply leads to an equal percentage change in nominal gross domestic product. This theory is derived from the equation of exchange and is a cornerstone of the monetarists view of macroeconomics. A key assumption in translating the equation of exchange to the quantity theory of money is that the velocity of money is constant (or unaffected by the other key variables--output, price level, and money supply).
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for letters from the Internal Revenue Service.
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A half gallon milk jug holds about $50 in pennies.
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"Time is the scarcest resource, and unless it is managed nothing else can be managed." -- Peter F. Drucker
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WPI
Wholesale Price Index
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