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FORECLOSURE: A legal move to acquire possession of mortgaged property when the borrower is unable to pay off the loan or make payments according to the conditions of the loan. In other words, if you can't make your house payments, the bank (or lender) can boot you out and take your house. The house can then be sold to pay off all or part of the loan. One of the more notable things about foreclosure for members of the third estate is that the rules and procedures differ from state to state. If you anticipate foreclosure activity, it might be worth your while to find out the specifics in your locale.
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Lesson Contents
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Unit 1: Instability |
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Unit 2: A Simple Cycle |
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Unit 3: Measurement |
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Unit 4: Causes |
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Unit 5: Policies | |
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Business Cycles
To purpose of this lesson is to examine the nature and causes of macroeconomic instability, which goes by the handy title business cycles. Business cycles are the recurring expansions and contractions of economic activity that generate the problems of unemployment and inflation. This lesson explores how business cycles can be stabilized with the goal of lessening unemployment and inflation. - The notion of business cycles is introduced in the first unit of this lesson, with an eye on what they are and why they are important to study.
- The four components of a standard, simple business cycle -- expansion, peak, contraction, and trough -- are then presented and discussed in the second unit.
- The third unit is devoted to several key measures of business cycle activity, especially leading, lagging, and coincident indicators.
- A couple of the most often discussed causes of business-cycle instability -- investment and politics -- are discussed in the fourth unit.
- The fifth unit closes out this lesson with an introduction to the expansionary and contractionary economic policies used to stabilize business cycles.
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ALLOCATIVE EFFICIENCY Obtaining the most consumer satisfaction from available resources. In other words, resources are allocated in such a way that consumer satisfaction is at its highest possible level. This is also termed either efficiency or economic efficiency.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a large, stuffed giraffe or a birthday greeting card for your aunt. Be on the lookout for strangers with large satchels of used undergarments.
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This isn't me! What am I?
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The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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UR
Unemployment Rate
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