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ABILITY-TO-PAY PRINCIPLE: A principle of taxation in which taxes are based on the income or resource-ownership ability of people to pay the tax. The income tax collected by our friends at the Internal Revenue Service is one of the most common taxes that seeks to abide by the ability-to-pay principle. In theory, the income tax system is set up such that people with greater incomes pay more taxes. Proportional and progressive taxes follow this ability-to-pay principle, while regressive taxes, such as sales taxes and Social Security taxes, don't.
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PRICE MAKER A buyer or seller that possess sufficient market control to affect the price of the good. From the selling side of the market, a monopoly is the best example of a price maker. From the buying side of the market, a monopsony is also a price maker. This is one of two alternatives related to control over price. The other is price taker. Price maker is also termed price setter.
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BEIGE MUNDORTLE
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Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either throw pillows for your living room sofa or a hepa filter for your furnace. Be on the lookout for infected paper cuts.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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"You don't have to be a fantastic hero to do certain things - to compete. You can be just an ordinary chap, sufficiently motivated to reach challenging goals." -- Sir Edmund Hillary, Explorer
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M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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