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JOB LEAVERS: Unemployed workers who have voluntarily quit their current jobs and have immediate sought other employment. This is one of the official categories or unemployed workers tracted by the Bureau of Labor Statistics when compiling employment statistics and the unemployment rate. It is also a key to the theoretical notion of frictional unemployment.
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INSURANCE A service that transfers the risk of loss from an individual to a larger group. The larger group is typically represented by an insurance provider, either a private for-profit company or a government agency. The insurance provider can assume the risk through risk pooling. Risk averse people, who are willing to pay a premium to avoid risk, are the ones most inclined to purchase insurance. The risk averse individual agrees to incur a small guaranteed loss (the premium) but avoids incurring a less likely, but much bigger, loss.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"Believe one who has tried it. " -- Virgil, Roman poet
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FOMC
Federal Open Market Committee
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