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NAFTA: An abbreviation for the North American Free Trade Agreement, which is an economic, international trade treaty between the three nations that occupy the North American continent -- Canada, Mexico, and the United States -- that was launch in 1994. The North American Free Trade Agreement is designed to eliminate assorted trade barriers between Canada, Mexico, and the United States, including the reduction or elimination of many tariffs and nontariff barriers. While economic theory clearly indicates efficiency is enhanced by the reduction and elimination trade restrictions, NAFTA has been strongly opposed by those potentially harmed by more efficient trade, especially labor unions. However, NAFTA is merely one of several international trade agreements created over the years to reduce trade restrictions. Others include the General Agreement on Tariffs and Trade and the Maastricht Treaty.

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Lesson 17: Money | Unit 3: Monetary Aggregates Page: 14 of 25

Topic: M3 <=PAGE BACK | PAGE NEXT=>

M3 is equal to M2 plus other near monies.
  • We have five trillion dollars of M3.
  • M3 averaged over 270 million people in the U. S. is about $18,000 per person.
  • Other near monies added to M3 are less liquid than the M2 near monies.
  • M3 other near monies are essentially investments.

M3 other near monies:

  • Larger denomination certificates of deposit and longer-term repurchase agreements.
  • M2 includes CDs less than $10,000.
  • M3 includes CDs over $100,000.
  • M3 includes repurchase agreements and Eurodollars of longer duration than the ones M2 includes.
  • These longer term and bigger M3 other near monies are less liquid than the M2 near monies.

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REDUNDANT INFORMATION

Information received by the five senses (sight, sound, taste, touch, and smell) that is old, familiar, and usual. Because redundant information is not presumed to be threatening it can be largely ignored by the automatic response that is commonly termed the "fight or flight" reaction. The alternative is novel information, which is unfamiliar and potentially threatening.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time at the confiscated property police auction looking to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope

This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. "

-- Steve Jobs, Apple Computer founder

MPS
Marginal Propensity to Save
A PEDestrian's Guide
Xtra Credit
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