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PAPER CURRENCY: Paper usually issued by the national government that are used as money. Metal coins are also frequently included under the generic heading of currency. Currency in the U.S. economy is issued by the Federal Reserve System (paper) and the U.S. Treasury (coins). This constitutes about 30 to 40 percent of the M1 money supply. Most modern currency is fiat money.
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KINKED-DEMAND CURVE A demand curve with two distinct segments which have different elasticities that join to form a corner or kink. The primary use of the kinked-demand curve is to explain price rigidity in oligopoly. The two segments are: (1) a relatively more elastic segment for price increases and (2) a relatively less elastic segment for price decreases. The relative elasticities of these two segments is based on the interdependent decision-making of oligopolistic firms.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either a T-shirt commemorating yesterday or a pair of handcrafted oven mitts. Be on the lookout for fairy dust that tastes like salt.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"A leader is most successful when people barely know he exists. When his work is done, his aim fulfilled, his troops will feel they did it themselves. " -- Lao-Tzu, philosopher
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FXA
Foreign Exchange Agreement
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