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BANK FAILURE: In principle, this results when a bank's liabilities exceed assets for an extended period and the bank is forced to go out of business. This is comparable to other types of business that go bankrupt. However, because banks are heavily regulated by government entities, including the Federal Reserve System, Federal Deposit Insurance Corporation, and Comptroller of the Currency, bank failure does not necessarily mean that the bank ceases to operated. In may cases, such a failure means the operation of the bank is take over by one of the government entities. The troubled bank might also be allowed or "encouraged" to merge with another, healthier bank.
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Lesson 4: Production Possibilities | Unit 2: The Schedule
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Page: 5 of 24
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This is a simple, hypothetical production possibilities schedule for the economy.- The economy is using all resources with given technology to efficiently produce two goods, jogging shoes and quartz clock calibrators.
- Bundles A through K represent production alternatives for the economy, such as bundle D with 3 calibrators and 425 pairs of shoes. We have unlimited possibilities using available resources and technology to the fullest extent.
- All shoes, no calibrators, bundle A.
- All calibrators, no shoes, bundle K.
- Some of each good, bundles E or J.
- How about 9 calibrators and 410 pairs of shoes? No! Each bundle is the maximum we can produce.
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RECESSIONARY GAP, KEYNESIAN MODEL The difference between equilibrium aggregate production achieved in the Keynesian model and full-employment aggregate production that occurs when equilibrium aggregate production is less than full-employment aggregate production. A recessionary gap, also termed a contractionary gap, is associated with a business-cycle contraction. The prescribed Keynesian remedy for a recessionary gap is expansionary fiscal policy. This is one of two alternative output gaps that can occur when equilibrium generates production that differs from full employment. The other is an inflationary gap.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall seeking to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for telephone calls from long-lost relatives.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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IEBNR
Income Earned But Not Received
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