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June 16, 2025 

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ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.

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MORAL HAZARD: Moral hazard occurs when a person changes behavior to the detriment of another person, after an agreement has been reached. This is an important information problem with insurance. The problem is that the harmed party does not have information concerning the change in behavior.

     See also | information | insurance | risk | deposit insurance | bank failure | rate of return | government | adverse selection | signalling |


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MORAL HAZARD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: June 16, 2025].


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PRICE STABILITY

The condition in which the average price level in the economy changes very slowly, if at all. This is a key part of the macroeconomic goal of stability. Price stability is commonly indicated by the inflation rate, calculated as percentage change in either the Consumer Price Index (CPI) or the GDP price deflator. Price stability is generally achieved by the ABSENCE of large or rapid increases or decreases in the price level.

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Today, you are likely to spend a great deal of time strolling through a department store trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for letters from the Internal Revenue Service.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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