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ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.
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CHECK CLEARING The process in which reserves or funds are transferred among banks to settle the accounts of checks written on one account and deposited into another. Check clearing is the heart and sole of daily banking activity and the final step in the use of checkable deposits as the medium of exchange for conducting transactions in the economy. Check clearing is facilitated by central clearinghouses, including the Federal Reserve System and a number of private organizations. The check clearing process is also a key component of the money creation process.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a rechargeable battery for your cell phone or a T-shirt commemorating the 2000 Olympics. Be on the lookout for infected paper cuts.
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The average length of a "business lunch" is about 36 minutes.
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"He who has begun has half done. Dare to be wise ‚ begin! " -- Horace, poet, satirist
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MPC
Marginal Propensity to Consume
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