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CENTRAL BANK: The banking authority of a nation that's in charge of ensuring a sound money supply and conducting the country's monetary policy. It's usually authorized by, and works closely with, the government to achieve full employment, low inflation rates , economic growth, and all of the other goals that make people happy, healthy, and wise. Unlike many other nations, which have a single central bank, the good old U. S. of A. actually has a de-central bank.
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BEIGE MUNDORTLE
Your compete MICRO*scope for today
You are the type of person who pursues life to the moderate because its just too much effort to be extreme. Family and friends do not associate with you if they have anything more interesting to do, like watching televised infomercials. Today, you are likely to spend a great deal of time surfing the Internet looking to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for jovial bank tellers. You should consider shopping at stores or businesses beginning with the letter L, but do not buy any products with a serial number or product code containing the number 706889. Your preferred shopping venue is discount super centers. Your special symbol is the period (.).
Is this You?
As a Beige Mundortle, you are somewhat dull, somewhat boring, somewhat lusterless. You don't particularly care and you don't really care that you don't care. You know that you have a somewhat drab, lackluster life, and that's just fine with you. You shop when you need to, buy what you have to, and get on with your life. It's just another day, another expenditure. You don't really care to spend a lot of time shopping, but you don't really care to spend a lot of time doing much of anything. Life goes on. So what? Who cares?
This isn't me! What am I?
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PERFECT COMPETITION, MARGINAL ANALYSIS A perfectly competitive firm produces the profit-maximizing quantity of output that equates marginal revenue and marginal cost. This marginal approach is one of three methods that used to determine the profit-maximizing quantity of output. The other two methods involve the direct analysis of economic profit or a comparison of total revenue and total cost.
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On The Lookout For A RECESSIONOne pitfall facing any pedestrian who explores the intricate details of the economy is large potholes lurking along the path. LOOK OUT! You can probably expect a few bumps and bruises from abruptly introducing your face to the pavement. But, after the cast hardens and the gashes have been stitched, you can be on your way. A little more experienced, no doubt, but forging ahead in spite of it all. Our economy also steps into an occasional pothole in route to an expanding economic pie. Recession is the nifty term we use for this sort of economic pothole and it will be are our topic for the next few pages. OH NO! LOOK OUT!
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The 22.6% decline in stock prices on October 19, 1987 was larger than the infamous 12.8% decline on October 29, 1929.
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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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