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COMMERCIAL PAPER: Short-term negotiable financial instruments, or promissory notes, sold by corporations to raise working capital. The maturity length of commercial paper is less than a year, often 30, 60 or 90 days. The corporations who issue commercial paper are usually the largest, most stable, and most profitable businesses in the country.
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CHECKABLE DEPOSITS Checking account deposits maintained by traditional commercial banks and depository thrift institutions (savings and loan associations, credit unions, and mutual savings banks) that are generally accepted in payment in exchange for goods and services. These accounts, also termed transactions deposits, make it possible for customers transfer funds easily and quickly to another, which makes them ideally suited for use as money. Checkable deposits are approximately one-half of the official M1 monetary aggregate tracked by the Federal Reserve System. The other half is currency (paper bills and metal coins).
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store looking to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for letters from the Internal Revenue Service.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Every generation of Americans needs to know that freedom exists not in doing what we like, but in having the right to do what we ought. " -- Pope John Paul II
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LRMC
Long Run Marginal Cost
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