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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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MICROECONOMIC GOALS Two conditions of the mixed economy that are most important for microeconomics, including efficiency, and equity, that are generally desired by society and pursued by governments through economic policies.
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WHITE GULLIBON
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Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for jovial bank tellers.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Be kind and merciful. Let no one ever come to you without coming away better and happier." -- Mother Teresa of Calcutta, humanitarian
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FOMC
Federal Open Market Committee
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