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LONG-RUN AGGREGATE SUPPLY CURVE: A graphical representation of the long-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The long-run aggregate supply, or LRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market; the other is the short-run aggregate supply curve (SRAS). The demand-side of the aggregate market is occupied by the aggregate demand curve. The vertical LRAS curve captures the independent relation between real production and the price level that exists in the long run.

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Lesson 18: Banking | Unit 2: Banking Details Page: 7 of 24

Topic: Credit Unions <=PAGE BACK | PAGE NEXT=>

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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MARKET SHARE

The fraction of an industry's total sales or some other activity accounted for by one or more firms in the industry. An individual firm is often concerned with its "share of the market" as an indication of "success." Market share is also key to the analysis of market structure, market control, and industry concentration--especially for oligopoly. It can be used to indicated the degree concentration and market control of one or more firms in an industry. It can be used alone or to calculate concentration ratios and the Herfindahl index.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either an AC adapter that works with your MPG player or rechargeable batteries. Be on the lookout for infected paper cuts.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
"A ship ought not to be held by one anchor, nor life by a single hope. "

-- Epictetus, philosopher

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