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BALANCE OF PAYMENTS DEFICIT: An imbalance in a nation's balance of payments in which payments made by the country exceed payments received by the country. This is also termed an unfavorable balance of payments. It's considered unfavorable because more currency is flowing out of the country than is flowing in. Such an unequal flow of currency will reduce the supply of money in the nation and subsequently cause an increase in the exchange rate relative to the currencies of other nations. This then has implications for inflation, unemployment, production, and other facets of the domestic economy. A balance of trade deficit is often the source of a balance of payments deficit, but other payments can turn a balance of trade deficit into a balance of payments surplus.
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FEDERAL RESERVE NOTES Paper currency issued and authorized by the Federal Reserve System and used along with Treasury coins and checkable deposits as the M1 money supply for the U.S. economy. Federal Reserve notes were first issued in 1913 and currently circulate in denominations of $1, $2, $5, $10, $20, $50, and $100. These notes underwent a major redesign to prevent counterfeiting in the 1990s.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for the last item on a shelf.
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It's estimated that the U.S. economy has about $20 million of counterfeit currency in circulation, less than 0.001 perecent of the total legal currency.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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ECLA
Economic Commission for Latin America
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