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TRADE BARRIER: A restriction, invariably by government, that prevents free trade among countries. The more popular trade restrictions are tariffs, import quotas, and assorted nontariff barriers. An occasional embargo will be even thrown into this mix. The primary use of trade barriers is to restrict imports from entering in country. By restring imports, domestic producers of the restricted goods are protected from competition and are even subsidized through higher prices. Consumers, though, get the short end of this stick with higher prices and a limited choice of goods. In that producers tend to have more political clout than consumers, it's pretty obvious why trade barriers are a "natural" state of affairs.

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Lesson 18: Banking | Unit 1: What It Is Page: 1 of 24

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

The primary profit-motivating task of a bank is to match up borrowers and savers.

Two main functions:

  • First: Banks maintain deposits for costumers.
  • Second: Banks offer loans to credit-worthy customers.

Banks and the money supply:

  • Banks are financial intermediaries.
  • Banks must remain stable because their deposits are part of the economy's money supply.
  • Closing down a bank would be detrimental to the money supply.

Regulation:

  • Banks are heavily regulated by government.

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HYPOTHESIS

A reasonable proposition about the workings of the world that is inspired or implied by a theory and which may or may not be true. A hypothesis is essentially a prediction made by a theory that can be compared with observations in the real world. A hypothesis usually takes the form: "If A, then also B." The essence of the scientific method is to test, or verify, hypotheses against real world data. If supported by data over and over again, a hypothesis becomes a principle.

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APLS

GRAY SKITTERY
[What's This?]

Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either handcrafted decorations to hang on your walls or throw pillows for your bed. Be on the lookout for celebrities who speak directly to you through your television.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Do what you feel in your heart to be right for you'll be criticized anyway. You'll be damned if you do and damned if you don't. "

-- Eleanor Roosevelt, first lady

ACIR
Advisory Council on Intergovernmental Relations
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