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SCARCITY RENT: The marginal opportunity cost imposed on future generations by extracting one more unit of a resource today. Scarcity rent is one of two costs the extraction of a finite resource imposes on society. The other is marginal extraction cost--the opportunity cost of resources employed in the extraction activity. Scarcity rent is the cost of "using up" a finite resource because benefits of the extracted resource are unavailable to future generations. Efficiency is achieved when the resource price--the benefit society is willing to pay for the resource today--is equal to the sum of marginal extraction cost and scarcity rent.
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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. See also | bank | fractional-reserve banking | bankruptcy | deposits | loans | money supply | Federal Reserve System | financial intermediary | bank panic | Federal Deposit Insurance Corporation | Comptroller of the Currency | savings and loan association | credit union | mutual savings bank |
Recommended Citation:BANK FAILURE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: July 22, 2019].
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ECONOMIC GOALS Five conditions of the mixed economy, including full employment, stability, economic growth, efficiency, and equity, that are generally desired by society and pursued by governments through economic policies. The five goals are typically divided into the three that are most important for macroeconomics (the macroeconomic goals of full employment, stability and economic growth) and the two that are most important for microeconomics (the microeconomic goals of efficiency and equity).
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"You can't build a reputation on what you are going to do." -- Henry Ford, automaker
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DI
Disposable Income
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