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TRADITIONAL BANK: The original type of commercial bank that handled customer deposits and made investment loans to businesses. Traditional banks, chartered at the national, state, or local levels, were the only entities legally able to issue checking accounts prior to the 1980s. While still dominant in the banking industry, traditional banks are joined by savings and loan associations, credit unions, and mutual savings banks.
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Lesson 12: Business Cycles | Unit 2: A Simple Cycle
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Page: 9 of 26
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An expansion is a period of increasing aggregate economic activity, indicated by the growth of real GDP from B to C.- Expansions typically last about 2-4 years, but can continue up to a decade.
- The economy generally grows faster than, often surpassing, the long-run trend.
- A recovery is the early part of an expansion.
- As the economy approaches point C, above the long-run trend, inflation is most likely to become a problem, as we try to buy more output than our resources can produce.
- At or above the full-employment, long-run trend line, unemployment is less of a problem.
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CURRENT SURPLUS OF GOVERNMENT ENTERPRISES The excess of revenue over cost received by government-operated firms that sell their output through markets and otherwise operate like private, profit-oriented firms. This is one component of the official entry government subsidies less current surplus of government enterprises found in the National Income and Product Accounts maintained by the Bureau of Economic Analysis, that separates national income (the resource cost of production) and gross (and net) domestic product (the market value of production).
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BROWN PRAGMATOX
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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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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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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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APT
Arbitrage Pricing Theory
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