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MEASURE OF VALUE: The money function in which money is used as the common benchmark to designate the prices of goods throughout the economy. Measure of value, or unit of account, means money is functioning as the measuring unit for prices. In other words, prices of goods are stated in terms of the monetary unit. This is one of four basic functions of money. The other three are medium of exchange, store of value, and standard of deferred payment.
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BALANCE OF PAYMENTS A comprehensive set of accounts that tracks the flow of currency and other monetary assets coming in to and going out of a nation. These payments are used for international trade, foreign investments, and other financial activities. The balance of payments is divided into two accounts -- current account (which includes payments for imports, exports, services, and transfers) and capital account (which includes payments for physical and financial assets). A deficit in one account is matched by a surplus in the other account. The balance of trade is only one part of the overall balance of payments set of accounts.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time wandering around the downtown area trying to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for a thesaurus filled with typos.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"It's usually the last ounce of effort that tips the scales of success." -- Rick Beneteau
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OCC
Office of the Comptroller of the Currency
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