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DATA: Real world observations that are used to test or verify hypotheses. This is the key to the process of acquiring knowledge about the world using the scientific method. While theoretical speculation might indicate what we "think" the world is like, we don't know for sure until we compare our hypothesized view with the real world itself. Data is what adds empirical to empirical economic analysis.
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DISCOUNT RATE The interest rate charged by the Federal Reserve System (the Fed) for loans to commercial banks, which in principle can be used as a means of a controlling the money supply. An increase in the money supply can be achieved when the Fed lowers the discount rate. A decrease in the money supply can be achieved when the Fed raises the discount rate. The discount rate, which is set by Federal Reserve Banks, subject to approval by the Board of Governors, is used more to signal changes in monetary policy rather than to actually control the money supply. The discount rate is one of the three monetary policy tools that the Fed can use, in principle, to control the money supply. The other two are open market operations and reserve requirements.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either a birthday greeting card for your uncle or a T-shirt commemorating the 2000 Presidential election. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"Look at everything as though you were seeing it either for the first or last time. Then your time on earth will be filled with glory." -- Betty Smith, Novelist
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BOA
Basic Ordering Agreement
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