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Shekel
SHEKEL Name of Israeli currency. The word shekel derives from biblical times, when coins were called shekels. Shekel was the term used by leaders of the Zionist movement to denote the price of membership. For the purpose of designating this cost of membership, attendees at the First... Read more |
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foreign exchange
foreign exchange methods and instruments used to adjust the payment of debts between two nations that employ different currency systems. A nation's balance of payments has an important effect on the exchange rate of its currency. Bills of exchange, drafts, checks, and telegraphic orders are the... Read more |
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European Monetary System
European Monetary System arrangement by which most nations of the European Union (EU) linked their currencies to prevent large fluctuations relative to one another. It was organized in 1979 to stabilize foreign exchange and counter inflation among members. Periodic adjustments raised the values of... Read more |
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Exchange Rate
EXCHANGE RATE The price of one country's currency described in terms of another country's currency is known as the foreign exchange rate. The rate is a mechanism used to convert the value of one country's currency into the currency of another. The rate is expressed in terms of the currencies of... Read more |
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price
price amount of money for which a unit of goods or services is exchanged. Price is equivalent to market value and may or may not measure the intrinsic value of the goods or services to the buyer or seller. Most economists hold that, in the long run, price in a competitive market will equal the cost... Read more |
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Special Drawing Rights
Special Drawing Rights (SDRs), type of international monetary reserve currency established (1968) by the International Monetary Fund (IMF). Created in response to worries concerning the limitations of gold and dollars as the sole means of settling international accounts, SDRs are designed to... Read more |
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Prepaid cards
DIGITAL CASH Digital cash, or electronic money, consists of encrypted data that serves as an electronic substitute for regular hard currency. It can exist in the form of a cash Internet transaction or as monetary value stored on a smart card. Descended from the electronic money used in bank... Read more |
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Briscoe v. Bank of the Commonwealth of Kentucky
Briscoe v. Bank of the Commonwealth of Kentucky, 11 Pet. (36 U.S.) 257 (1837), argued 28 Jan., 1 Feb. 1837, decided 11 Feb. 1837 by vote of 6 to 1; McLean for the Court, Story in dissent. With the death of John Marshall in 1835, the Supreme Court's orientation shifted away from his nationalist... Read more |
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depreciation
depreciation in accounting , reduction in the value of fixed or capital assets, as by use, damage, weathering, or obsolescence. It can be estimated according to a number of methods. In the straight-line method, depreciation is simply seen as a function of time; the cost of the asset, minus its... Read more |
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Thomas Attwood
Attwood, Thomas (1783–1856). Banker, currency reformer, and founder of the Birmingham Political Union, Attwood argued that the economic ills of the nation were caused by hard money, and that the cure lay in an abundant supply of paper currency instead of gold. Although now remembered chiefly... Read more |
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