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CARDINAL: A measurement based on a scale or quantitative numbers, such as 1, 5, or 357.2, that enables a comparison in magnitude. Comparability means, for example, that the difference between 5 and 2 is the same as the difference between 12 and 9. Measures such as height and weight use cardinal numbers. Most economic measures are based on cardinal numbers, including gross domestic product, unemployment rate, the price of chocolate, and the quantity of wheat produced. The benefit of cardinal measurement is the ability to directly compare one measure with another. If, for example, the price of chocolate is $1 a pound and the price of wheat is $4 a pound, then wheat is four times more expensive than chocolate. Ordinal measures, which involve relative ranking, is an alternative type of measure.
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STANDARD OF DEFERRED PAYMENT The money function in which money is used as a standard benchmark for specifying future payments for current purchases, that is, buying now and paying later. This function may seem obscure, but it is a direct result of the store of value and unit of account functions. This is one of four basic functions of money. The other three are medium of exchange, unit of account, and store of value.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a wall poster commemorating yesterday or pink cotton balls. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead." -- Charles M. Schwab
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OBX
Oslo Stock Exchange (Norway)
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