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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.
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VERTICAL MERGER The consolidation of two or more separately-owned businesses, that have an input-output relation, into a single firm. This is one of three types of mergers. The other two are horizontal merger--two competing firms in the same industry that sell the same products--and conglomerate merger--two firms in separate, unrelated industries.
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"We can't take any credit for our talents. It's how we use them that counts. " -- Madeleine L'Engle, Writer
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FED
Federal Reserve
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