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U.S. TREASURY BILL: One kind of government security issued by the U. S. Treasury to obtain the funds used to finance the federal budget deficit. A Treasury bill (or T-bill) has a maturity length of one year or less, with 90 days a common maturity. T-bills, together with short-term commercial paper issued by businesses, are traded in money markets. The interest rate on T-bills is one of the key indicators of short-run economic activity.
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GOVERNMENT FAILURES Inefficiencies in the allocation of resources attributable to imperfections in the operation of governments. Government failures are based on the utility-maximizing behavior of politicians, voters, nonvoters, special interest groups, and government employees. The identification and analysis of government failures is central to the study of public choice and offers something of a counterbalance to government actions designed to address the inefficiencies of market failures.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either a large stuffed brown and white teddy bear or a replacement washer for your kitchen faucet. Be on the lookout for defective microphones.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"There comes a time when the mind takes a higher plane of knowledge but can never prove how it got there. " -- Albert Einstein, physicist
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BIS
Bank for International Settlements
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