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HOT MONEY: Financial capital that quickly moves from one financial asset to another in search of or with expectations of higher interest rates and return. Hot money can move from one bank to another or from one country to another. For banks, hot money usually refers to deposits that exceed FDIC insured limits that bounce around from bank to bank as interest rates change. For countries, hot money refers to financial capital that quickly leaves one country due to exchange rates, interest rate differentials, or economic turmoil, or the threat of war.
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TAX INCIDENCE The portion of a tax paid by each side of a market based on differences in the pre-tax equilibrium price and the after-tax demand price and supply price. Because a tax drives a wedge between demand price and supply price, the incidence or burden of a tax typically falls on both buyers and sellers. How much each side pays depends on the relative price elasticity of demand and supply. Buyers pay the entire tax only in the case of a perfectly elastic supply or perfectly inelastic demand. Sellers pay the entire tax only in the case of a perfectly elastic demand or perfectly inelastic supply.
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BLUE PLACIDOLA
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway looking to buy either a replacement remote control for your stereo system or a computer that can play video games and burn DVDs. Be on the lookout for celebrities who speak directly to you through your television.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The man who does not read good books has no advantage over the man who cannot read them. " -- Mark Twain
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TI
Taxable Income
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