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K: The standard abbreviation for the quantity of capital goods, especially for the analysis of production. The letter "K" is used even though capital begins with a "C" because "C" is commonly used to represent consumption. The complementary representations for other inputs are "L" for labor and "N" for population.
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Lesson 8: Market Shocks | Unit 4: Double Shifts
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Page: 13 of 20
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Topic:
More Demand and More Supply
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Market equilibrium is disrupted if both the demand (higher income) and supply (technological breakthrough) curves shift.- An increase in demand creates a shortage. Price and quantity tend to increase.
- An increase supply creates a surplus. Price declines and quantity increases.
- The combined effect is an obvious increase in quantity but a questionable change in price.
- At the new equilibrium the price is indeterminant.
- If demand shifts relatively more than supply, price is higher.
- If demand shifts relatively less than supply, price is lower.
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BOARD OF GOVERNORS, FEDERAL RESERVE SYSTEM The governing, policy making body of the Federal Reserve System, consisting of 7 members, one of whom serves as the Chairman and another as Vice Chairman. The Board of Governors sets the general course of Federal Reserve policy, including the regulation of the commercial banking system. The 7 Governors also form of the core of the Federal Open Market Committee which is responsible for monetary policy. The Chairman of the Board of Governors of the Federal Reserve System is one of the most important and powerful positions in the economy.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet seeking to buy either a how-to book on fixing your computer, with illustrations or several magazines on computer software. Be on the lookout for defective microphones.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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BHC
Bank Holding Company
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