One-third of the people who could benefit from a special type of savings account to cushion the blow of their health plan deductible aren't doing so, according to a new study.
9 hours ago
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Lord David Blunkett has argued that a lack of funding for the UK civil service, combined with a lack of trust for an "underfunded" local government prevented effective early track and trace systems being introduced in response ...
Jul 15, 2020
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A new study from the University of Georgia finds that users of public insurance are paying more for bariatric weight loss surgery compared to private insurance patients.
Jul 13, 2020
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A Japanese professor of infectious disease says he is "very pessimistic" the postponed Tokyo Olympics can open in 15 months.
Apr 20, 2020
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Looking for something to binge-watch while you're hunkering down at home?
Apr 14, 2020
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While researchers have suggested that individuals who base their self-worth on their financial success often feel lonely in everyday life, a newly published study by the University at Buffalo and Harvard Business School has ...
Apr 10, 2020
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The World Health Organization is reportedly encouraging people to use as many digital payment options as possible in the wake of the coronavirus crisis.
Mar 10, 2020
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Expanding Medicaid in North Carolina could sharply lessen the burden of colon cancers in the state and save the lives of thousands of Black men as well as improving access to care for men of all races, researchers report ...
Jan 30, 2020
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Alarmed by a deadly new twist in the nation's drug addiction crisis, the government will allow states to use federal money earmarked for the opioid epidemic to help growing numbers of people struggling with meth and cocaine.
Jan 21, 2020
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A team of rehabilitation researchers identified factors associated with the money management problems experienced by some individuals with multiple sclerosis. Few studies have addressed this issue, which can have substantial ...
Dec 16, 2019
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Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment.
Nearly all contemporary money systems at the national level are fiat money systems. Fiat money is without value as a physical commodity, and derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the national boundaries of the country, for "all debts, public and private". By law, the refusal of a legal tender (offering) extinguishes the debt in the same way acceptance does. Some bullion coins such as the Australian Gold Nugget and American Eagle are legal tender, however, they trade based on the market price of the metal content as a commodity, rather than their legal tender face value (which is usually only a small fraction of their bullion value).
The money supply of a country is usually held to consist of currency (banknotes and coins) and 'deposit money' (the balance held in checking accounts and savings accounts). These demand deposits usually account for a much larger part of the money supply than currency. Deposit money is intangible and exists only in the form of various bank records. Despite being intangible, deposit money still performs the basic functions of money, as checks are generally accepted as a form of payment and as a means of transferring ownership of deposit money.
More generally, the term "price system" is sometimes used to refer to methods using commodity valuation or money accounting systems.
This text uses material from Wikipedia, licensed under CC BY-SA
