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K: The standard abbreviation for the quantity of capital goods, especially for the analysis of production. The letter "K" is used even though capital begins with a "C" because "C" is commonly used to represent consumption. The complementary representations for other inputs are "L" for labor and "N" for population.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 7 of 24
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A third type is a credit union. History: - The first credit union was created in 1909.
- Experienced tremendous growth after WWII.
- Primary regulator is the National Credit Union Association (NCUA).
- Created for reasons similar to labor unions.
Credit unions: - Relatively small, non-profit entities, associated with a particular business or group with something in common.
- Pool savings and make personal loans to members.
Evolution: - Originally offered limited banking services.
- Began offering checking accounts in the 70's, which gave them control over part of the M1 money supply.
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AGGREGATE SUPPLY INCREASE, LONG-RUN AGGREGATE MARKET A shock to the long-run aggregate market caused by an increase in aggregate supply, resulting in and illustrated by a rightward shift of the long-run aggregate supply curve. An increase in aggregate supply in the long-run aggregate market results in a decrease in the price level and an increase in real production. The level of real production resulting from the shock is a greater level of full-employment real production.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a wall poster commemorating last Friday (you know why) or a country wreathe. Be on the lookout for defective microphones.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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IRBNE
Income Received But Not Earned
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