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FIXED EXCHANGE RATE: An exchange rate that's established at a given level and maintained through government (usually central bank) actions. To fix the exchange rate, a government must be willing to buy and sell currency in the foreign exchange market in whatever amounts are necessary. A fixed exchange rate typically disrupts a nation's balance of trade and balance of payments. If the exchange rate is fixed too low, then a government needs to sell it's currency in the foreign exchange market, and may end up expanding the money supply too much, which then causes inflation. If the exchange rate is fixed too high, then export sales to other countries are curtailed and the economy is likely to slide into a recession.
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SOCIAL SCIENCE The scientific study of society--of human behavior and of social interactions. Economics is one of several social sciences. Others are sociology, political science, and anthropology. Economics is considered a social science because it seeks to explain how society deals with the scarcity problem.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads looking to buy either an AC adapter that won't fry your computer or a case for your designer sunglasses. Be on the lookout for jovial bank tellers.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
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"Well done is better than well said. " -- Benjamin Franklin, statesman, inventor
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MC
Marginal Cost
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