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LIABILITY: Something that you owe. The biggest liabilities for most consumers are loans, including mortgages, car loans, credit-card balances, and installment accounts at stores.
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UNIT OF ACCOUNT The money function in which money is used as the common benchmark to designate the prices of goods exchanged throughout the economy. Unit of account, or measure of value, means money is functioning as the measuring unit for prices. In other words, prices of goods are stated in terms of the monetary unit. This is one of four basic functions of money. The other three are medium of exchange, store of value, and standard of deferred payment.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale seeking to buy either shoe laces for your snow boots or a rim for your spare tire. Be on the lookout for slightly overweight pizza delivery guys.
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"Do you want to be safe and good, or do you want to take a chance and be great?" -- Jimmy Johnson, Football Coach
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MTN
Multilateral Trade Negotiations
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