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COIN: A shiny metal disc, almost always authorized by a national government entity, with a raised impression of famous dead people on one side and a building or birds on the other that is used as money. U.S. coins are issued by the U.S. Treasury Department and come in denominations of pennies, nickels, dimes, quarters, half-dollars, and dollars. At one time, metal coins were comprised of valuable metal (that is, commodity money) in an amount equivalent to their face value. A dime had 10-cents worth of silver. A nickel had 5-cents worth of nickel. A penney had 1-cents worth of copper. Most modern coins, however, are fiat money, containing less valuable metal alloys. But they work just fine in vending machines.
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CONTRACTIONARY FISCAL POLICY A form of fiscal policy in which a decrease in government purchases, an increase in taxes, and/or a decrease in transfer payments are used to correct the inflationary problems of a business-cycle expansion. The goal of contractionary fiscal policy is to close an inflationary gap, restrain the economy, and decrease the inflation rate. Contractionary fiscal policy is often supported by contractionary monetary policy. An alternative is expansionary fiscal policy.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for gnomes hiding in cypress trees.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Believe and act as if it were impossible to fail." -- Charles F. Kettering
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WPO
Weakly Pareto Optimal
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