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FIAT MONEY: A medium of exchange (money) with value in exchange, but little or no value in use. Modern paper currency, coins, and checkable deposits are fiat money. The value of fiat money comes from the public's general willingness to accept it in exchange for other goods. This willingness comes from the fact that EVERYONE is willing to accept fiat money in exchange, which largely depends on the public's confidence in the authority (usually government) issuing the fiat money. Fiat money is NOT valuable unto itself, but it is valuable for what it can buy.
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PURPLE SMARPHIN
Your compete MICRO*scope for today
You are the type of person who is generally thinking about three different things at the same time. Family and friends get irritated when you explain, for the umpteenth time, the difference between a partial derivative and a total derivative. Today, you are likely to spend a great deal of time going from convenience store to convenience store looking to buy either a set of luggage without wheels or a how-to book on wine tasting. Be on the lookout for vindictive digital clocks with revenge on their minds. You should consider shopping at stores or businesses beginning with the letter Y, but do not buy any products with a serial number or product code containing the number 546762. Your preferred shopping venue is the Internet. Your special symbol is the exclamation point (!).
Is this You?
As a Purple Smarphin, you are the brightest and most intelligent person you know. And that goes for shopping, too. You know exactly what you want. You know exactly what it costs. You know exactly when and where to buy. But, of course, shopping is only one of the many activities that attracts your intellectual attention. You shop when you need to and buy if have to, but shopping is not the end all of your life.
This isn't me! What am I?
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BALANCE ON SERVICES A subset of the balance of payments current account that records the difference between the payments received for exports of services to other nations and the payments made for the imports of services from other nations. The flow of payments is for intangible services, not for physical or tangible goods. The balance on services is thus appropriately divided into services exported and services imported. Two other subsets of the current account include the balance on merchandise trade and unilateral transfers. The commonly termed balance of trade is the sum of the balance on merchandise trade and the balance on services.
Complete Entry | Visit the WEB*pedia |
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My Sales Pitch On ADVERTISINGOur extended sojourn through the winding complexities of the economy has worn the soles from my jogging shoes. For the best bargain on a new pair, let's consult those annoying flyers stuffed into the Sunday newspaper. We're in luck. The Mega-Mart Discount Warehouse Super Center is having their monthly "once in a lifetime" sale on jogging shoes. Without this Mega-Mart Discount Warehouse Super Center advertising supplement, I might have unknowingly paid a higher price for my brand new Fleet Feet Footwear jogging shoes. Isn't advertising wonderful?
Tell me more...
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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"No great performance ever came from holding back. " -- Don Greene, motivational coach, former Green Beret
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AAO
Authorized Acquisition Objective
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