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December 16, 2018 

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EFFICIENT SEARCH: Decreasing marginal search benefit and increasing marginal search cost suggest that the most efficient search lies somewhere between zero effort and complete information. The most efficient level of search effort is given by the equality of marginal search benefit and marginal search cost.

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MONETARY AUTHORITY: The government entity responsible for monetary policy and controlling a nation's money supply. In the United States, the Federal Reserve System is the monetary authority. The monetary authority of a nation is often the nation's central bank.

     See also | monetary policy | money supply | Federal Reserve System | central bank |


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


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TAX EQUITY

The notion that taxes are imposed on society in a fair and equitable way. The two standards of fairness and equity used to evaluate taxes are the benefit principle -- those who benefit from government pay the taxes, and the ability-to-pay principle -- those with the most income pay the taxes. The ability-to-pay principle gives rise to two additional notions of fairness -- horizontal equity (those with equal incomes pay equal taxes) and vertical equity (those with different incomes pay different taxes).

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APLS

RED AGGRESSERINE
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Today, you are likely to spend a great deal of time searching for rummage sales hoping to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for jovial bank tellers.
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
"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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Discounted Cash Flow
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