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EFFICIENT SEARCH: Decreasing marginal search benefit and increasing marginal search cost suggest that the most efficient search lies somewhere between zero effort and complete information. The most efficient level of search effort is given by the equality of marginal search benefit and marginal search cost.
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Lesson Contents
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Unit 1: The Fed |
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Unit 2: What It Does |
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Unit 3: The Fed Pyramid |
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Unit 4: Monetary Policy |
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Unit 5: Issues | |
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Federal Reserve System
In this lesson, we take a detailed look at the government entity that is directly responsible for controlling the money supply and undertaking business-cycle stabilizing monetary policy -- the Federal Reserve System. The Federal Reserve System is the U.S. economy's number one bank regulator. And they do this regulation with the goal of ensuring the that the nation has just the right about money to avoid high rates of unemployment and inflation. To understand how the Federal Reserve System does it's job, we take a close look at how it is structure and policy tools it has under its' control. - The first unit introduces the Federal Reserve System, with a discussion of King Clarence and his role in assisting the operations of Fred the Goldsmith.
- In the second unit we take a look at the importance of controlling the banking system, and the consequences if the control is ineffective.
- The structure of the Federal Reserve System is examined in the third unit, with the highlights being the Chairman of the Federal Reserve System and the Federal Open Market Committee.
- The fourth unit then explores the assorted policy tools used by the Federal Reserve System to control the banking system and the money supply, including open market operations, discount rate, and reserve requirements.
- We close out this lesson in the fifth unit with a few thoughts on the role politics play in the formulation of monetary policies.
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AVERAGE PHYSICAL PRODUCT The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average product, which more often goes by the shorter name average product (AP), is one of two measures derived from total physical product. The other is marginal physical product.
Complete Entry | Visit the WEB*pedia |
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a handcrafted bird feeder or a New York Yankees baseball cap. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope
This isn't me! What am I?
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The word "fiscal" is derived from a Latin word meaning "moneybag."
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"When you play, play hard; when you work, don't play at all. " -- Theodore Roosevelt, 26th US president
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DI
Disposable Income
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