Some types of plastic money include the Canadian dollar, the Romanian leu and the Papua New Guinean kino. These banknotes are made of a polymer that allows for greater security against counterfeiting by creating intricate designs that are difficult to imitate. The first known testing of polymer banknotes occurred during the 1980s, when Canada was developing and evaluating them to replace its previous currency.Know More
As of 2014, polymer banknotes are in full use by Australia, Bermuda, Brunei, Canada, New Zealand, Papua New Guinea, Romania and Vietnam as well as more than a dozen other countries in a limited capacity. Some other countries have released commemorative banknotes that are not used in normal circulation.
Polymer banknotes possess a large number of security features, including windows and the possibility to allow light to shine through them to reveal further security details. The ability to counterfeit these notes is hindered by the complexity of the notes, resulting in notable drops in counterfeiting in those countries that employ them.
The plastic used to create these notes is called "Guardian polymer," serving the specific purpose of use in currency. This polymer allows for shadow images in the form of watermarks, embedded security threads and complex background patterns.Learn more about Economics
Net factor income from abroad is the amount of money made in a country other than one's legal home country, according to Investopedia. This term applies to income made by either an individual or a business and refers to income made abroad that is then sent back to the home country. This income can come in the form of wages or investments.Full Answer >
The public debt is the total amount of money that is owed by the government. The value changes on a daily basis, and it builds up or reduces in time. It builds up as a result of running the economy.Full Answer >
According to Nationwide Insurance, college students spend the largest part of their money on discretionary expenses (46 percent), followed by room and board (26 percent), tuition and fees (19 percent), and miscellaneous other expenses (12 percent).Full Answer >
The primary use of money is for the purchase of goods or services. Money allows for a one-sided purchase transaction, which is typically less complex than a barter system where one person exchanges an item of value for a similarly valued item owned by the other party.Full Answer >