March 21, 2018 

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ECONOMIES OF SCOPE: A production process in which it is cheaper to produce two (or more) products together rather than separately. This property is also termed joint production. For example the production of beef also results in the production of leather and the production of lumber also results in the production of sawdust. Economies of scope can be beneficial, that is, giving a producer multiple products to sell. But it can also be problematic when one of the joint products is undesirable, such as pollution or waste residual.

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Lesson 17: Money | Unit 3: Monetary Aggregates Page: 13 of 25

Topic: Near Monies <=PAGE BACK | PAGE NEXT=>

Near monies are savings, but there are several different types of savings.

Types of savings:

  • Standard savings accounts: They pay an interest, but lack check-writing privileges. These are relatively liquid.
  • Certificates of deposit (CDs): They require a minimum deposit for a specified time period and pay higher interest rates. They are less liquid than savings accounts.
  • Money market funds: These funds are invested in negotiable, short-term assets like U.S, treasury bills or commercial paper.
  • Overnight Eurodollars: Accounts denominated in U.S. dollars that are held in foreign banks.
  • Overnight repurchase agreements: Interest-paying business savings accounts that are temporary repositories of non-interest paying business checking account balances.

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Time lags that occur between the onset of an economic problem and the full impact of the policy intended to correct the problem. Policy lags come in two broad categories--inside lag (getting the policy activated) and outside lag (the subsequent impact of the policy). The three specific inside lags are recognition lag, decision lag, and implementation lag. The one specific outside lag is termed impact lag. Policy lags can reduce the effectiveness of business-cycle stabilization policies and can even destabilize the economy. Policy lags, especially inside lags, are often different for monetary policy than for fiscal policy.

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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 wall poster commemorating the 2000 Olympics or a flower arrangement with a lot of roses for your grandmother. Be on the lookout for broken fingernail clippers.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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