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GOVERNMENT BORROWING: The demand for loans obtained through the financial markets by the government sector to finance government purchases over and above taxes. In terms of the circular flow, this is one of two demands for household saving diverted into financial markets, the other is investment borrowing.
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MEDIUM OF EXCHANGE The money function in which money is widely accept in exchange for goods and services. For an asset to function as a medium of exchange it needs value in exchange, but not necessarily value in use. This is one of four basic functions of money. The other three are unit of account, store of value, and standard of deferred payment.
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Natural gas has no odor. The smell is added artificially so that leaks can be detected.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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JFE
Journal of Financial Economics
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