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 this CD-ROM, we mean an American Billion. Most times when you hear `billion' on the TV or the radio, or read it in a newspaper, they mean an American billion.