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ECONOMIC GROWTH, PRODUCTION POSSIBILITIES: Economic growth is the process of increasing the economy's ability to produce goods and services. It is achieved by increasing the quantity or quality of resources. This process can be illustrated as an outward shift of the production possibilities curve.
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BANK BALANCE SHEET A record of the assets, liabilities, and net worth of a bank at a given point in time. Assets are what a bank owns. Liabilities are what a bank owes. Net worth is the difference between the two and what is claimed by or owed to the owners of the bank. By definition, a balance sheet must balance. The assets on one side are equal to the liabilities and net worth on the other.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time searching the newspaper want ads hoping to buy either any book written by Stephan King or a T-shirt commemorating next Thursday. Be on the lookout for letters from the Internal Revenue Service.
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"In every man's life there lies latent energy. There is, however, a spark that, if kindled, will set the whole being afire, and he will become a human dynamo, capable of accomplishing almost anything to which he aspires. " -- James Cash Penney, retailer
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