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TRANSACTIONS DEPOSITS: A fancy, schmancy, official term for checkable deposits. This is the term typically used by the Federal Reserve System when they speak of checking accounts. The logic is that this are the accounts that are used to conduct transactions, that is, are used as money.
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FOUR ESTATES A division of society based on the economic functions of consumption, production, regulation, and information that includes governments as the first estate, businesses as the second estate, consumers as the third estate, and journalists as the fourth estate.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for fairy dust that tastes like salt.
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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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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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Walrasian Equilibrium
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