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HUMAN CAPITAL: The sum total of a person's productive knowledge, experience, and training. The acquisition of human capital is what makes a person more productive. One of the most notable methods of stocking up on human capital is through formal education--from grade school to advanced college degrees. However, human capital is also effectively obtained through less formal training and highly informal on-the-job experiences.
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Lesson 18: Banking | Unit 4: Regulating Banks
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Page: 19 of 24
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Several institutions which regulate banks. The main players: - Federal Reserve System (Fed): They have primary responsibility of the nation's money supply by controlling banking reserves.
- Federal Deposit Insurance Corporation (FDIC): Their mission is to insure bank deposits. If a bank can't satisfy customer withdrawals the FDIC pays off the customers.
- Comptroller of the Currency: They charter national banks, they decide which ones qualify for a national charter.
Other regulatory agencies: - State banking regulatory agencies.
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MARKET EFFICIENCY The notion that a competitive market automatically achieves an efficient allocation of resources by equating demand price with supply price and quantity demanded with quantity supplied. Market efficiency relies on the self-correction process that eliminates shortages or surpluses. It also presumes that the market is competitive and is not subject to market failures.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for defective microphones.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Man is born to live, not to prepare for life. " -- Boris Pasternak, writer
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CABEI
Central American Bank for Economic Integration
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