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money

(Encyclopedia)money, term that refers to two concepts: the abstract unit of account in terms of which the value of goods, services, and obligations can be compared; and anything that is widely established as a mean...

fiat money

(Encyclopedia)fiat money f´t, f´t [key], inconvertible money that is made legal tender by the decree, or fiat, of the government but that is not covered by a specie reserve. It is commonly understood to b...

money supply

(Encyclopedia)money supply: see money.

shell money

(Encyclopedia)shell money, medium of exchange consisting of shells, the most widely distributed type of ancient currency. Shells are particularly useful as money because they may be strung in long strips of proport...

money-market fund

(Encyclopedia)money-market fund, type of mutual fund that invests in high-yielding, short-term money-market instruments, such as U.S. government securities, commercial paper, and certificates of deposit. Returns of...

demonetization

(Encyclopedia)demonetization dmntz´shn [key], governmental withdrawal of the monetary quality from particular coinage or precious metal. By demonetization former money is no longer legal tender, al...

extortion

(Encyclopedia)extortion, in law, unlawful demanding or receiving by an officer, in his official capacity, of any property or money not legally due to him. Examples include requesting and accepting fees in excess of...

Gresham, Sir Thomas

(Encyclopedia)Gresham, Sir Thomas grsh´m [key], 1519?–1579, English merchant and financier. As the royal financial agent in Antwerp after 1551 he proved himself very able, though his methods were frequently ...

currency

(Encyclopedia)currency: see money.

exchange

(Encyclopedia)exchange, mutual transfer of goods, money, services, or their equivalents; also the marketplace where such transfer occurs, such as a stock exchange or a commodity exchange (see commodity market). In ...