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REGULATORY FORCES: Forces in the marketing environment that depend on various government regulatory agencies that impact how an organization operates on a daily basis. An example is the Federal Trade Commission (FTC), which monitors advertising, deceptive labeling, and false or misleading information. Agencies such as the FTC have powers to enforce regulations through fines and other penalties. Other regulatory agencies are: Food and Drug Administration (FDA), Federal Communications Commission (FCC), Environmental Protection Agency (EPA), and Consumer Product Safety Commission (CPSC).

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Lesson 19: Money Creation | Unit 5: Policy Page: 20 of 23

Topic: Control <=PAGE BACK | PAGE NEXT=>

Controlling the money creation process is the key to understanding the role that money plays in the economy.

In the old days:

  • Money was issued by government. With print and mint they had complete control over the quantity of money.
In the modern economy:
  • Checkable deposits are directly under the control of commercial banks. Government must control banks to control money.
Some history:
  • In the late 1800s, banks ran amuck, creating money as they saw fit. The economy experienced perpetual turmoil.
  • In the 1970s and 1980s, S&Ls had instability problems.
  • Since the mid 1980's, money creation has been under control. The economy has been strong and growing.

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AVERAGE PHYSICAL PRODUCT

The quantity of total output produced per unit of a variable input, holding all other inputs fixed. Average physical product, usually abbreviated APP, is found by dividing total physical product by the quantity of the variable input. Average product, which more often goes by the shorter name average product (AP), is one of two measures derived from total physical product. The other is marginal physical product.

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APLS

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Today, you are likely to spend a great deal of time at a crowded estate auction trying to buy either a large flower pot shaped like a Greek urn or a small palm tree that will fit on your coffee table. Be on the lookout for the happiest person in the room.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
"You are never given a dream without also being given the power to make it true."

-- Richard Bach, Author

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