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MARGINAL REVENUE, MONOPOLY: The change in total revenue received by a monopoly resulting from a change in the quantity of output sold. For a monopoly firm, marginal revenue is less than the price.
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Lesson 19: Money Creation | Unit 4: The Multiplier
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Page: 16 of 23
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A multiplier captures the magnified relationship between an activity and the triggering event.The money creation process:- The activity is the deposit creation.
- The trigger event is extra bank reserves.
The multiplier:- In our example, the banking system creates $1,000 of deposits from $100 worth of reserves.
- The deposit multiplier equals 10: Each $1 of extra reserves triggers 10 times the amount in deposits.
D = mRD = Number of deposits created.
R = Number of reserves added to the banking system.
m = The value of the multiplier (10 in the example).
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PRODUCTION The process of transforming the natural resources of the land into consumer satisfying consumption goods or productive capital goods. This transformation process involves the four scarce resources or factors of production--labor, capital, land, and entrepreneurship. Although production is generally the physical transformation of materials, it often involves the spatial relocation, or transportation, of commodities, as well.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors wanting to buy either pink cotton balls or a genuine down-filled comforter. Be on the lookout for the last item on a shelf.
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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BJE
Bell Journal of Economics
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