March 17, 2018 

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FIAT MONEY: A medium of exchange (money) with value in exchange, but little or no value in use. Modern paper currency, coins, and checkable deposits are fiat money. The value of fiat money comes from the public's general willingness to accept it in exchange for other goods. This willingness comes from the fact that EVERYONE is willing to accept fiat money in exchange, which largely depends on the public's confidence in the authority (usually government) issuing the fiat money. Fiat money is NOT valuable unto itself, but it is valuable for what it can buy.

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MONETARY UNIT: The official (or sometimes unofficial) money used as the medium of exchange for an economy, and by extension as the unit of account for specifying prices. In the United States, for example, the monetary unit is the dollar. Other nations have different money and different monetary units. Germany uses the mark, Japan uses the yen, and England uses the pound.

     See also | money | money functions | medium of exchange | unit of account |

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The price that exists when a market is clear of shortage and surplus, or is in equilibrium. Market-clearing price is a common, non-technical term for equilibrium price. In a market graph, the market-clearing price is found at the intersection of the demand curve and the supply curve.

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Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for infected paper cuts.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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