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Fiat Money
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative mone ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Yuan Dynasty Banknote With Its Printing Plate 1287
Yuan may refer to: Currency * Yuan (currency), the basic unit of currency in historic and contemporary mainland China and Taiwan ** Renminbi, the currency of modern mainland China, whose basic unit is yuan ** New Taiwan dollar, the currency used in modern Taiwan, whose basic unit is yuán in Mandarin ** Manchukuo yuan, the unit of currency that was used in the Japanese puppet state of Manchukuo ** Gold yuan, the unit of currency that was used in the Republic of China between 1948 and 1949 * Yen and yuan sign (¥), symbol used for yuan currency in Latin scripts Governmental organ * "Government branch" or "Court" (), the Chinese name for a kind of executive institution. Government of Taiwan * Control Yuan * Examination Yuan * Executive Yuan * Judicial Yuan * Legislative Yuan Government of Imperial China * Xuanzheng Yuan, or Bureau of Buddhist and Tibetan Affairs during the Yuan dynasty * Lifan Yuan during the Qing dynasty Dynasties * Yuan dynasty (元朝), a dynasty of China rule ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhode Island Pound
The pound was the currency of Rhode Island until 1793. Initially, sterling coin and foreign coins circulated, supplemented by local paper money from 1710.Newman, 2008, p. 371. These notes were denominated in £sd, but they were worth less than sterling, with 1 Rhode Island shilling = 9d sterling. The first issue of notes was known as the "Old Tenor" issue. This fell in value and "New Tenor" notes were introduced in 1740, worth four times the Old Tenor notes. Both Old and New Tenor notes were replaced in 1763 by "Lawful money" at a rate of 1 Lawful shilling = New Tenor shillings = old Tenor shills. The state of Rhode Island issued Continental currency denominated in £sd and Spanish dollar The Spanish dollar, also known as the piece of eight (, , , or ), is a silver coin of approximately diameter worth eight Spanish reales. It was minted in the Spanish Empire following a monetary reform in 1497 with content fine silver. It w ...s, with 1 dollar = 6 shillings. The c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Jabez Bowen
Jabez Bowen, Sr. (June 2, 1739May 7, 1815) was an American shipper, slave trader and politician. He was a militia colonel during the American Revolutionary War, and served as Deputy Governor of Rhode Island and chief justice of the Rhode Island Supreme Court. Early life Bowen was born in Providence, Rhode Island, the son of Ephraim Bowen and Mary (Fenner) Bowen. His father was a prominent doctor in Providence in 1739, and his great-uncle Jabez Bowen was also a prominent Providence physician. In 1757, Bowen graduated from Yale College. He married Sarah Brown on December 19, 1762, a cousin of Moses Brown and John Brown of the prominent Brown family (''see'' Brown University) of Providence. Bowen was deeply involved with the Browns in the shipping business, involving slaves, molasses, rum, and the China trade. Political career He was a member of the Providence town council from 1773 to 1775, and was a representative in the General Assembly in 1777. During the American Revolu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
George Washington
George Washington (, 1799) was a Founding Fathers of the United States, Founding Father and the first president of the United States, serving from 1789 to 1797. As commander of the Continental Army, Washington led Patriot (American Revolution), Patriot forces to victory in the American Revolutionary War against the British Empire. He is commonly known as the Father of the Nation for his role in bringing about American independence. Born in the Colony of Virginia, Washington became the commander of the Virginia Regiment during the French and Indian War (1754–1763). He was later elected to the Virginia House of Burgesses, and opposed the perceived oppression of the American colonists by the British Crown. When the American Revolutionary War against the British began in 1775, Washington was appointed Commanding General of the United States Army, commander-in-chief of the Continental Army. He directed a poorly organized and equipped force against disciplined British troops. Wa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Endogeneity (econometrics)
In econometrics, endogeneity broadly refers to situations in which an explanatory variable is correlated with the error term. The distinction between endogenous and exogenous variables originated in simultaneous equations models, where one separates variables whose values are determined by the model from variables which are predetermined. Ignoring simultaneity in the estimation leads to biased estimates as it violates the exogeneity assumption of the Gauss–Markov theorem. The problem of endogeneity is often ignored by researchers conducting non-experimental research and doing so precludes making policy recommendations. Instrumental variable techniques are commonly used to mitigate this problem. Besides simultaneity, correlation between explanatory variables and the error term can arise when an unobserved or omitted variable is confounding both independent and dependent variables, or when independent variables are measured with error. Exogeneity versus endogeneity In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Utility (economics)
In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. * In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function. This kind of utility bears a closer resemblance to the original utilitarian concept, developed by moral philosophers such as Jeremy Bentham and John Stuart Mill. * In a descriptive context, the term refers to an ''apparent'' objective function; such a function is revealed by a person's behavior, and specifically by their preferences over lotteries, which can be any quantified choice. The relationship between these two kinds of utility functions has been a source of controversy among both economists and ethicists, with most maintaining that the two are distinct but generally related. Utility function Consider a set of alternatives among which a person has a preference ordering. A utility funct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microfoundations
Microfoundations are an effort to understand macroeconomic phenomena in terms of individual agents' economic behavior and interactions.Maarten Janssen (2008),Microfoundations, in ''The New Palgrave Dictionary of Economics'', 2nd ed. Research in microfoundations explores the link between Macroeconomics, macroeconomic and Microeconomics, microeconomic principles in order to explore the aggregate relationships in macroeconomic models. During recent decades, macroeconomists have attempted to combine microeconomic models of individual behaviour to derive the relationships between macroeconomic variables. Presently, many macroeconomic models, representing different theories, are Dynamic stochastic general equilibrium, derived by aggregating microeconomic models, allowing economists to test them with both macroeconomic and microeconomic data. However, microfoundations research is still heavily debated with management, strategy and organization scholars having varying views on the "micro-m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetary Economics
Monetary economics is the branch of economics that studies the different theories of money: it provides a framework for analyzing money and considers its functions (as medium of exchange, store of value, and unit of account), and it considers how money can gain acceptance purely because of its convenience as a Public good (economics), public good. The discipline has historically prefigured, and remains integrally linked to, macroeconomics. This branch also examines the effects of monetary systems, including regulation of money and associated financial institutions and international aspects. Modern analysis has attempted to provide microfoundations for the demand for money and to distinguish valid nominal value, nominal and real monetary relationships for micro or macro uses, including their influence on the aggregate demand for output. Its methods include deriving and testing the implications of money as a substitute for other assets and as based on explicit frictions. History I ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694 to act as the Kingdom of England, English Government's banker and debt manager, and still one of the bankers for the government of the United Kingdom, it is the world's second oldest central bank. The bank was privately owned by stockholders from its foundation in 1694 until it was nationalised in 1946 by the Attlee ministry. In 1998 it became an independent public organisation, wholly owned by the Treasury Solicitor on behalf of the government, with a mandate to support the economic policies of the government of the day, but independence in maintaining price stability. In the 21st century the bank took on increased responsibility for maintaining and monitoring financial stability in the UK, and it increasingly functions as a statutory Financial regulation, regulator. The bank's headquarters have been in London's main financial di ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
En:fio
Fio or FIO may refer to: * Fio Zanotti (born 1949), Italian record producer * FIO (software), the flexible IO tester created by Jens Axboe * Florida Institute of Oceanography * Fraction of inspired oxygen * Flexible IO * National Federation Of Industrial Organisations, former Japanese trade union federation * Pemoline Pemoline, formerly sold under the brand name Cylert among others, is a stimulant medication which was used in the treatment of attention deficit hyperactivity disorder (ADHD) and narcolepsy,- it has since been discontinued in most countries due ..., a stimulant * The East Slavic name format of family name, given name and patronymic ( – ФИО) * Free In and Out, maritime freight rate term See also * Fiio {{disambiguation ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat
Fiat Automobiles S.p.A., commonly known as simply Fiat ( , ; ), is an Italian automobile manufacturer. It became a part of Fiat Chrysler Automobiles in 2014 and, in 2021, became a subsidiary of Stellantis through its Italian division, Stellantis Europe. Fiat Automobiles was formed in January 2007 when Fiat S.p.A. reorganized its automobile business, and traces its history back to 1899, when the first Fiat automobile, the Fiat 4 HP, was produced. Fiat Automobiles is the largest automobile manufacturer in Italy. During its more than century-long history, it remained the largest automobile manufacturer in Europe and the third in the world after General Motors and Ford Motor Company, Ford for over 20 years, until the car industry crisis in the late 1980s. In 2013, Fiat S.p.A. was the second-largest European automaker by volumes produced and the Automotive industry, seventh in the world, while FCA was the world's eighth-largest automaker. In 1970, Fiat Automobiles employed more th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
