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ARBITRAGE: Buying something in one market then immediately (or as soon as possible) selling it in another market for (hopefully) a higher price. Arbitrage is a common practice in financial markets. For example, an aspiring financial tycoon might buy a million dollars worth of Japanese yen in the Tokyo foreign exchange market then resell it immediately in the New York foreign exchange market for more than a million dollars. Arbitrage of this sort does two things. First, it often makes arbitragers wealthy. Second, it reduces or eliminates price differences that exist between two markets for the same good.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either high-gloss photo paper that works with your printer or a desktop calendar with all federal and state holidays highlighted. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Just as iron rusts from disuse, even so does inaction spoil the intellect. " -- Leonardo da Vinci, architect, artist
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MMSE
Minimun Mean Square Error
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