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SALES TAX: A tax on retail sales. This is major source of revenue for many state and local governments. Because poorer people tend to spend a larger share of their income on stuff covered by sales taxes, it tends to be a regressive tax. To reduce this regressiveness, some state and local governments excluded items like food and medicine.
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MONEY CREATION, THE PROCESS The process in which the banking system creates checkable deposits by lending excess reserves. The total amount of checkable deposits (and money) created by the banking system depends on the amount of excess reserves available and the reserve requirement ratio specifying the reserves needed to back up deposits. The money creation process is the movement of reserves from bank to bank, with each bank using excess reserves to make loans (and checkable deposits), then keeping a fraction of the reserves to back up newly created deposits. The deposit expansion multiplier captures the money creation process, indicating the amount of checkable deposits created if the banking reserve acquires a given amount of excess reserves.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area looking to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"A successful man is one who can lay a firm foundation with the bricks others have thrown at him. " -- David Brinkley, newsman
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EGARCH
Exponential Generalized Autoregressive Conditional Heteroskedasticity
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