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April 26, 2018 

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S&P 500: The abbreviation for the Standard & Poor's 500, an index of the prices of 500 corporate stocks traded on the New York Stock Exchange. It includes an assortment of stocks for industrial, transportation, and utility companies. It also includes a larger number of stocks than the comparable Dow Jones composite index, which means it's often considered a better measure of the overall performance of the stock market. Less commonly publicized are separate Standard & Poor's indexes for industrial, transportation, utility, and financial stocks.

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Lesson 17: Money | Unit 2: More About Money Page: 5 of 25

Topic: Medium of Exchange <=PAGE BACK | PAGE NEXT=>

The primary function of money is to as THE medium of exchange.

An economy without money:

  • Barter exchange happens when you trade one good for another.
  • A barter economy is one that uses nothing but barter trades, no money.
  • Barter requires double coincidence of wants: I must want what you have and you must want what I have.
  • With no money, resources are used for trading and not for production.

The bottom line:

  • Using money as a medium of exchange eases the exchange process, makes it more efficient, and frees resources for production.

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LEADING ECONOMIC INDICATORS

Ten economic statistics that tend to move up or down a few months BEFORE business-cycle expansions and contractions. Most importantly, these measures indicate peak and trough turning points about three to twelve months before they occur. Leading economic indicators are one of three groups of economic measures used to track business-cycle activity. The other two are coincident economic indicators and lagging economic indicators.

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YELLOW CHIPPEROON
[What's This?]

Today, you are likely to spend a great deal of time at a dollar discount store looking to buy either a remote controlled World War I bi-plane or a wall poster commemorating Thor Heyerdahl's Pacific crossing aboard the Kon-Tiki. Be on the lookout for infected paper cuts.
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This isn't me! What am I?

Lombard Street is London's equivalent of New York's Wall Street.
"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

DCF
Discounted Cash Flow
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