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HDI: An abbreviation of the Human Development Index, whichn is a summary composite index that measures a country's average achievements in three basic aspects of human development: longevity, knowledge, and a decent standard of living. Longevity is measured by life expectancy at birth; knowledge is measured by a combination of the adult literacy rate and the combined primary, secondary, and tertiary gross enrollment ratio; and standard of living is measured by GDP per capita. The Human Development Index (HDI), reported in the Human Development Report of the United Nations, is an indication of where a country is development wise. The index can take value between 0 and 1. Countries with an index over 0.800 are part of the High Human Development group. Between 0.500 and 0.800, countries are part of the Medium Human Development group and below 0.500 they are part of the Low Human Development group.

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Lesson 19: Money Creation | Unit 4: The Multiplier Page: 18 of 23

Topic: The Money Multiplier <=PAGE BACK | PAGE NEXT=>

Checkable deposits are only part of the money supply.
  • Looking only at checkable deposits, a $100 deposit gives us $1,000 with a deposit multiplier of 10.
However:
  • Money, in total, doesn’t expand by $1,000.
  • First: Banks might keep a few excess reserves, which limits deposit and money creation.
  • Second: Loans might leak out of checkable deposits and into savings deposits, which limits money creation.
  • Third: Loans might leak out of checkable deposits and into cash, which limits reserves and money creation.
Note:
  • The Federal Reserve uses a complex money multiplier to control the amount of money circulating in the economy.

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MARGINAL COST

The change in total cost (or total variable cost) resulting from a change in the quantity of output produced by a firm in the short run. Marginal cost (MC) indicates how much total cost changes for a given change in the quantity of output. Because changes in total cost are matched by changes in total variable cost in the short run (total fixed cost is fixed), marginal cost is the change in either total cost or total variable cost. It is found by dividing the change in total cost (or total variable cost) by the change in output. Marginal cost is one of four cost concepts used in short-run production analysis. The other three are average total cost, average fixed cost, and average variable cost.

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Today, you are likely to spend a great deal of time at a going out of business sale wanting to buy either an AC adapter for your CD player or storage boxes for your family photos. Be on the lookout for fairy dust that tastes like salt.
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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.
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