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IMPORT SUBSTITUTION: A strategy for economic development for a country based on replacing imported goods with domestic production. This is often directed toward imported inputs used for domestic production. The goal of this policy is to encourage domestic production, which subsequently increases domestic income and consumption. A contrasting economic development is export promotion.
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GOVERNMENT BORROWING The acquisition of funds through the financial markets by the government sector which are used to finance government expenditures. In terms of the simple circular flow model, this is one of two basic demands for household saving diverted into financial markets. The other is investment borrowing. Government borrowing is also one of two methods of financing government expenditures. The other is taxes.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either storage boxes for your summer clothes or 500 feet of coaxial cable. Be on the lookout for high interest rates.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"Twenty years from now you will be more disappointed by the things that you didn't do than by the ones you did do. So throw off the bowlines. Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover." -- Mark Twain
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CBOE
Chicago Board Options Exchange
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