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April 25, 2018 

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LABOR FORCE PARTICIPATION RATE: The proportion of the total noninstitutionalized civilian population 16 years of age and over that is in the civilian labor force. The labor force participation rate is essentially the ratio of the civilian labor force to the total noninstitutionalized civilian population 16 years of age and over. This ratio indicates the proportion of the available "working age" population that is willing and able to work and is either employed or actively seeking employment.

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Lesson 17: Money | Unit 4: Money's History Page: 19 of 25

Topic: Metal Commodity Money <=PAGE BACK | PAGE NEXT=>

Metals are a natural for use as a commodity money.
  • The most important characteristic of metals is durability.
  • Some people erroneously think that metals and only metals are true money.

Metals:

  • They are extremely durable, quite divisible, relatively easy to transport and difficult to counterfeit.
  • They are not perfect.

Drawbacks:

  • Transportability: Metals are heavy.
  • Value in use affects value in exchange: A change in the market price brought by disruptions of the market, affect value in exchange and can play havoc with the economy.

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INDIRECT BUSINESS TAXES

The official entry in the National Income and Product Accounts maintained by the Bureau of Economic Analysis for sales taxes. Indirect business taxes are one key difference between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). Indirect business taxes (IBT) is generally less than 10 percent of gross domestic product (7 to 8 percent is common).

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[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction hoping to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for celebrities who speak directly to you through your television.
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This isn't me! What am I?

The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"The greatest things ever done on Earth have been done little by little. "

-- William Jennings Bryan

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