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TRANSFER PAYMENTS: Payments made without any corresponding production or expectations of production. Unless otherwise noted (such as business transfer payments), the term transfer payments generally refers to payments by the government sector to the household sector. The three most important transfer payments in our economy are for Social Security, unemployment compensation, and welfare. The intent of these transfers payments is to redistribute income, and thus the goods and services that can be had with the income. Transfer payments surface as income received but not earned (IRBNE) added to national income to derived personal income.
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Lesson 18: Banking | Unit 4: Regulating Banks
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Page: 20 of 24
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How are banks regulated?- First: Government regulators say do something, and if you don't do it, then you suffer the consequences--dollar fines, losing operating control to regulators, or spending a little time in jail.
- Second: Many bank regulations involve accounting procedures and practices. The FDIC and Comptroller of the Currency are the institutions that take care of these matters.
- Third: The regulations we are most concerned with are those involving reserves and deposits, which play a key role in controlling the money supply.
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CONTRACTION A phase of the business cycle characterized by a general period of declining economic activity. A contraction is one of two basic business cycle phases. The other is expansion. The transition from contraction to expansion is termed a trough and the transition from expansion to contraction is termed a peak. The popular term for contraction, one that frequently shows up in the media, is recession.
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BROWN PRAGMATOX [What's This?]
Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either income tax software or a how-to book on the art of negotiation. Be on the lookout for strangers with large satchels of used undergarments. Your Complete Scope
This isn't me! What am I?
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Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
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"Good judgment comes from experience, and often experience comes from bad judgment." -- Rita Mae Brown ‚ Writer
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NORC National Opinion Research Center
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