How much is a billion?

Historically, there are two different kinds of billions. There is an American billion which is

1,000,000,000 = 10⁹

and a British billion which is

1,000,000,000,000 = 10³ x 10⁹ = 10¹²

or one thousand times the size of an American billion. Everytime you see the word `billion' on these pages, we mean an American billion. Almost always these days when you hear the word `billion' used on the TV or the radio, or read it in a newspaper, it will refer to an American billion.

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