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KEYNESIAN DISEQUILIBRIUM: The state of the Keynesian model in which aggregate expenditures are not equal to aggregate production, which results in an imbalance that induces a change in aggregate production. In other words, the opposing forces of aggregate expenditures (the buyers) and aggregate production (the sellers) are out of balance. At the existing level of aggregate production, either the four macroeconomic sectors (household, business, government, and foreign) are unable to purchase all of the production that they seek or producers are unable to sell all of the production that they have.
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Lesson 18: Banking | Unit 1: What It Is
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Page: 3 of 24
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- The primary financial intermediary task of banks is to match up borrowers and savers.
- Two main functions of banks: Maintaining deposits for costumers and offering loans to credit-worthy customers.
- That banks perform a 'financial' intermediary function, that is, divert household income away from consumption expenditures and to investment.
- The importance of banks maintaining checking accounts, which are about 60% of the money supply.
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LOSS MINIMIZATION RULE A rule stating that a firm minimizes economic loss by producing output in the short run that equates marginal revenue and marginal cost if price is less than average total cost but greater than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and shutdown (if price is less than average variable cost).
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a set of luggage with wheels or a birthday gift for your aunt. Be on the lookout for fairy dust that tastes like salt.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"You are never given a dream without also being given the power to make it true." -- Richard Bach, Author
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Exports;Marks the Spot
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