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December 16, 2018 

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HOT MONEY: Financial capital that quickly moves from one financial asset to another in search of or with expectations of higher interest rates and return. Hot money can move from one bank to another or from one country to another. For banks, hot money usually refers to deposits that exceed FDIC insured limits that bounce around from bank to bank as interest rates change. For countries, hot money refers to financial capital that quickly leaves one country due to exchange rates, interest rate differentials, or economic turmoil, or the threat of war.

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BALANCED-BUDGET AMENDMENT: A proposed amendment to the U.S. Constitution that would constrain total government spending to be less than or equal to total tax collections. Such an amendment would effectively eliminate the federal deficit, which results when the spending exceeds taxes. The logic behind such an amendment is to prevent discretionary use of fiscal policy, which is often blamed for political business cycles and the resulting problems of inflation and unemployment. It is also touted as a way to limit the size of the Federal government.

     See also | government | budget deficit | budget surplus | government purchases | taxes | transfer payments | fiscal policy | political business cycle | conservative | money supply rule | automatic stabilizers | inflation | unemployment |


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BALANCED-BUDGET AMENDMENT, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2018. [Accessed: December 16, 2018].


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MACROECONOMIC MARKETS

Three sets of markets that make up the macroeconomy--product, financial, and resource--which exchange the three primary types of macroeconomic commodities--gross production, legal claims, and factor services. The four macroeconomic sectors--household, business, government, and foreign--interact through these three sets of markets. The primary objective of macroeconomic theories is to explain activity that takes place in these three sets of markets.

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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 wanting to buy either a lazy Susan for you dining room table or a set of serrated steak knives, with durable plastic handles. Be on the lookout for letters from the Internal Revenue Service.
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A half gallon milk jug holds about $50 in pennies.
"If things are not going well with you, begin your effort at correcting the situation by carefully examining the service you are rendering, and especially the spirit in which you are rendering it."

-- Roger Babson, statistician and columnist

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