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ABSOLUTE ADVANTAGE: The general ability to produced more goods using fewer resources. This idea of absolute advantage is important for trading that occurs between both people and nations. A nation can get an absolute advantage from an advanced level of technology or higher quality resources. For a person, an absolute advantage can result from natural abilities or the acquisition of human capital (education, training, or experience).
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STABILITY Eliminating macroeconomic fluctuations in prices, employment, and production. Stability is primarily directed toward keeping inflation in check and avoiding high or unpredictable inflation rates that create uncertainty and cause haphazard redistribution of income and wealth. This is one of the five economic goals and one of three macroeconomic goals. The other goals are economic growth, full employment, efficiency, and equity.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages trying to buy either a rechargeable battery for your camera or a coffee cup commemorating the first day of spring. Be on the lookout for infected paper cuts.
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Paper money used by the Commonwealth of Massachusetts prior to the U.S. Revolutionary War, which was issued against the dictates of Britain, was designed by patriot and silversmith, Paul Revere.
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"If you wouldn't write it and sign it, don't say it." -- Earl Wilson, Columnist
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CRA
Community Reinvestment Act, Contemporaneous Reserve Accounting
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