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KEOGH PLAN: A savings retirement plan for self-employed workers authorized by the Self-Employment Individuals Retirement Act (1982). A Keogh plan is similar to an IRA (individual retirement account), but is a bit more complicated to establish. Like other private pension plans, income diverted to Keogh plans are tax deferred, that is, taxes on not paid on the income until it is withdrawn during retirement.

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Lesson 1: Economic Basics | Unit 4: Goals Page: 12 of 18

Topic: Tradeoffs <=PAGE BACK | PAGE NEXT=>

Pursuing one goal is usually at the expense of another, we have tradeoffs.

Three reasons for tradeoffs:

  • First, resources used to pursue one goal cannot be used to pursue another.
  • Second, actions that move us toward one goal can move us away from another.
  • Third, pursuing a goal may be good for some, but bad for others.
A thought:
  • Economists are inclined to stress efficiency more than others--but efficiency is only one of several goals.

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AGGREGATE DEMAND SHIFTS

Changes in the aggregate demand determinants cause the aggregate demand curve to shift. The mechanism is comparable to that for market demand determinants and market demand. There are two alternatives--an increase in aggregate demand and a decrease in aggregate demand. An increase in spending by any of the four sectors--household, business, government, and foreign--shifts the aggregate demand curve to right. A decrease in spending by these four sectors shifts the aggregate demand curve to left.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time at a going out of business sale seeking to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for poorly written technical manuals.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
"When I look back on all these worries, I remember the story of the old man who said on his deathbed that he had had a lot of trouble in his life, most of which had never happened. "

-- Winston Churchill, British statesman

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