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GOVERNMENT SECURITY: A financial instrument used by the federal government to borrow money. Government securities are issued by the U.S. Treasury to cover the federal government's budget deficit. Much like consumers who borrow money from banks to finance the purchase of a house or car, the federal government borrows money to finance some of its expenditures. These securities include small denomination ($25, $50, or $100), nonnegotiable Series EE savings bonds purchased by consumers. The really serious money, however, is borrowed using larger denomination securities ($100,000 or more) purchased by banks, corporations, foreign governments, and others with large sums of money to lend.
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TAX EFFICIENCY Taxes, mandatory payments used to finance government operations, inherently disrupt the allocation of resources. This disruption might be good, correcting an otherwise inefficient allocation caused by pollution or market control. However, for an already efficiency allocation, a tax creates and inefficient wedge between the demand price and the supply price. This tax is generally paid partially by buyers and partially by sellers, which the tax incidence. Inefficiency arises because a tax reduces the total amount of consumer surplus and producer surplus, which is deadweight loss.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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DW
Durbin-Watson
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