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ANNUITY: The receipt of payments at regular intervals from a established fund. Annuities are commonly used for insurance and retirement programs. It works in this way: A fund, which can be established either through a one-time sum of money or a series of payments, is exhausted over time with fixed, periodic payments. The amount of each payment depends on the interest accrued on the outstanding balance in the fund, and the length of time scheduled to exhaust the fund. For example, if your pension plan is based on an annuity that begins payments at the age of 65, then the size of the payments depends on whether you expect to live 5, 10, 15, or more years and set up payments accordingly. It's very similar to amortization, but in the reverse direction.
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Lesson 20: Federal Reserve System | Unit 1: The Fed
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Page: 3 of 20
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- The basics of how Clarence the King discovered the regulatory function of the modern banking system.
- That the Federal Reserve System keeps banks operating through a combination of regulatory oversight and emergency reserves.
- That the Federal Reserve is a central bank, which is a government established and sanctioned bank with assorted financial tasks.
- That the Federal Reserve regulates the banking system and control the money supply.
- That the Federal Reserve was established in 1913 to prevent failed banks from shrinking the money supply and causing business cycles contractions.
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IMPERFECT COMPETITION Markets or industries with two or more sellers and buyers that fail to match the criteria of perfect competition. The most noted examples of imperfect competition are the two market structures with selling-side control--monopolistic competition and oligopoly. Lesser known market structures with buying-side control--monopsonistic competition and oligopsony--are also considered as imperfect competition. Facing no competition, monopoly and monopsony are not included. Most real world markets can be considered imperfect competition.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time at a flea market hoping to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for deranged pelicans.
Your Complete Scope
This isn't me! What am I?
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The first paper currency used in North America was pasteboard playing cards "temporarily" authorized as money by the colonial governor of French Canada, awaiting "real money" from France.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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G-7
Group of Seven
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