AmosWEB is Economics: GLOSS*arama

Sunday
July 13, 2025

AmosWEB means Economics with a Touch of Whimsy!

REPURCHASE AGREEMENT: A common type of bank account in which funds are transferred from one account to another, then automatically transferred back after a short period, usually overnight. In effect, a bank customer buys a legal claim from a bank with the understanding that the bank will automatically "repurchase" this legal claim back after a specified time period. Repurchase agreements were original developed as a round about means of paying interest on business checking, which such interest paying was legally prohibited. Repurchase agreements are near monies added to M1 to obtain broader monetary aggregates, M2 and M3.

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production stages (435)
perfect competition, characteristics (224)
U-shaped cost curves (191)
factor supply (170)
monopolistic competition (161)

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CONTRIBUTIVE STANDARD: One of three basic income distribution standards (the other two are equality standard and needs standard). The contributive standard distributes income based on a person's contribution to production. This standard answers the For Whom? question of allocation primarily through the use of prices and markets. The resources used to produce goods that more highly valued society (meaning they better satisfy unlimited wants and needs) command higher prices and thus generate more income to their owners. An actor, for example, who can attract millions of adoring. $7-a-ticket fans to one performance of an action-packed, blockbuster movie produces a good that is more highly valued by society than a philosophy professor who spends all semester teaching a handful of reluctant, $100-a-credit-hour students the finer details of existentialism.

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CONTRIBUTIVE STANDARD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 13, 2025].

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MARGINAL REVENUE CURVE, MONOPOLISTIC COMPETITION

A curve that graphically represents the relation between the marginal revenue received by a monopolistically competitive firm for selling its output and the quantity of output sold. Because a monopolistically competitive firm is a price maker and faces a negatively-sloped demand curve, its marginal revenue curve is also negatively sloped and lies below its average revenue (and demand) curve. A monopolistically competitive firm maximizes profit by producing the quantity of output found at the intersection of the marginal revenue curve and marginal cost curve.

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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time driving to a factory outlet trying to buy either rechargeable batteries or a rechargeable battery for your computer. Be on the lookout for neighborhood pets, especially belligerent parrots.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.

"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate."

-- John Glenn, astronaut, U.S. senator

WLS
Weighted Least Squares

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