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YIELD CURVE: A curve plotting the yields (or returns) on securities with different maturity lengths. The standard yield is for U.S. Treasury securities with lengths ranging from 90 days to 30 years. The five maturity lengths are usually 90 day, 180 day, 2 year, 5 year, 10 year, and 30 year. The shape and slope fo the yield curve indicates the state of the economy and what's likely to come. A normal yield curve has a slight positive slope, with slightly higher yields for longer maturity securities. A steep yield curve suggests the end of a contraction and beginning of an expansion. An inverted, or negatively sloped yield curve is the sign of an upcoming contraction.
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Lesson Contents
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Unit 1: Short-Run Production |
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Unit 2: Production Measures |
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Unit 3: Product Curves |
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Unit 4: Long-Run Production |
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Unit 5: Supply | |
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Production
- The first unit of this lesson, Short-Run Production, begins our study by introducing a few basic concepts underlying production, especially short run, long run, fixed input, and variable input.
- In the second unit, Production Measures, we take a look the three standard measures of production -- total product, average product, and marginal product.
- The third unit, Product Curves, then presents graphical relations for these three measures -- total product curve, average product curve, and marginal product curve.
- In the fourth unit, Long-Run Production, we examine the role returns to scale play in long-run production.
- The fifth and final unit, Supply, then closes this lesson by previewing the importance of production to the supply decisions by firms.s
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IMPACT LAG The time lag that occurs between the implementation of a government policy designed to correct an economic problem and the complete impact of the policy. The impact lag is based on the multiplier process and can last up to a year or two or even longer. This "outside lag" is one of four policy lags associated with monetary and fiscal policy. The other three "inside lags" are recognition lag, decision lag, and implementation lag. All four policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a key chain with a built-in flashlight and panic button or a green and yellow striped sweater vest. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"Defeat is simply a signal to press onward. " -- Helen Keller, author, lecturer
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LIFO
Last In First Out
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