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HECKSCHER-OHLIN MODEL: A model of international trade developed by Eli Heckscher and Bertil Ohlin, with significant contributions by Paul Samuelson, that relies on the notion that comparative advantage is based on relative natural resource endowments. A nation with large oil reserves will, for example, have a comparative advantage in oil production over another nation with fertile soil, which will have a comparative advantage in agricultural production.

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Lesson 18: Banking | Unit 2: Banking Details Page: 6 of 24

Topic: S&Ls <=PAGE BACK | PAGE NEXT=>

The second type is a savings and loans association.

History:

  • Created by the Federal Home Loan Act after the WWII.
  • Promoted homed ownership for the middle class.
  • Regulated by the Federal Home Loan Bank and by the Federal Savings and Loan Deposit Insurance Corporation.
  • Operated during the 50's and 60's using the 3-6-3 rule.
  • Used savings accounts to make mortgage loans.
  • Didn't offer checking accounts or business loans.

Changes in the 70's:

  • Went for riskier loans and offered checking accounts.

In the 80's:

  • Many went out of business, others merged with traditional banks, and a few survived.
  • Operate now like traditional banks: Offer the same services and come under the same regulations.

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INVESTMENT LINE

A graphical depiction of the relation between investment expenditures by the business sector and the economy's aggregate level of income or production. This relation plays a key role in the study of Keynesian economics. A investment line is characterized by vertical intercept, which indicates autonomous investment, and slope, which is the marginal propensity to invest and indicates induced investment. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the investment line onto the consumption line, then adding government purchases and net exports to this stack.

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Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a flower arrangement with anything but tulips for your grandfather or a birthday greeting card for your mother that doesn't look like a greeting card. Be on the lookout for broken fingernail clippers.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

WLLN
Weak Law of Large Numbers
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