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RENT SEEKING: The inclination of everyone who is alive and breathing to get as much as they can for themselves. These stems from the idea of economic rent, which is a payment over above the opportunity cost. People are said to be rent seeking when they try to get higher wages, more profit, or any other payment over above the minimum they would be willing to accept.
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FOREIGN EXCHANGE A common term for the currency used in "another country" and is in direct contrast to the "domestic currency" used within a given country. More generally, foreign exchange is any financial instrument that gives one country a claim on the currency of another country and which is used to make payments between countries. The most important type of foreign exchange is, of course, the currency of other countries. However foreign exchange also includes financial assents such as bank deposits denominated in another currency. Foreign exchange is appropriately traded through the foreign exchange market and the price of foreign currency is termed the foreign exchange rate.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites hoping to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for neighborhood pets, especially belligerent parrots.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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NAIRU
Non-Accelerating Inflation Rate of Unemployment
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