March 21, 2018 

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WAGES, AGGREGATE SUPPLY DETERMINANT: One of several specific aggregate supply determinants assumed constant when the short-run aggregate supply curve is constructed, and that shifts the short-run aggregate supply curve when it changes. An increase in the wages causes a decrease (leftward shift) of the short-run aggregate supply curve. A decrease in the wages causes an increase (rightward shift) of the short-run aggregate supply curve. Other notable aggregate supply determinants include the technology, energy prices, and the capital stock. Wages are an example of a resource price aggregate supply determinant.

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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.
  • 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.
  • The Federal Reserve uses a complex money multiplier to control the amount of money circulating in the economy.

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A group of people with shared interests who have more to gain or lose from a candidate, issue, or policy and thus try extra hard to ensure that the political system is aware of their preferences. Special interest groups are the other side of the coin of voter apathy. Motivated rational choices, some people have little or no involvement in the political system others have a great deal. The study of public choice indicates that special interest groups are one source of government inefficiency. Other sources are politicians, voters, and government bureaucracies.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for poorly written technical manuals.
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In the early 1900s around 300 automobile companies operated in the United States.
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