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BUDGET DEFICIT: An excess of budgetary expenditures over revenues. The federal government is well known for its inclination to operate with a budget deficit. But it is not alone. Consumers also find themselves in this position on many occasions. When a budget deficit occurs, the excess spending is financed through borrowing. For the federal government this involves issuing government securities. For households it typically involves some sort of bank loan, credit card purchase, use of savings (borrowing from thyself), or hitting a friend up for a few bucks.
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PAPER ECONOMY Markets, exchanges, and other assorted economic activities that deal with legal or paper claims on physical assets rather than the physical assets. The vast majority of activities for the paper economy take place through financial markets. The paper economy complements production and consumption activities of the real economy that involve product markets and resource markets.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for gnomes hiding in cypress trees.
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More money is spent on gardening than on any other hobby.
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"He who truly knows has no occasion to shout. " -- Leonardo da Vinci, painter, sculptor, architect, engineer
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ECU
European Currency Unit
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