March 21, 2018 

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ABSOLUTE POVERTY LEVEL: The amount of income a person or family needs to purchase an absolute amount of the basic necessities of life. These basic necessities are identified in terms of calories of food, BTUs of energy, square feet of living space, etc. The problem with the absolute poverty level is that there really are no absolutes when in comes to consuming goods. You can consume a given poverty level of calories eating relatively expensive steak, relatively inexpensive pasta, or garbage from a restaurant dumpster. The income needed to acquire each of these calorie "minimums" vary greatly. That's why some prefer a relative poverty level.

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EASY MONEY: A term used when the Federal Reserve System pursues expansionary monetary policy. In other words, to stimulate our economy out of recession, the Fed increases the amount of money in the economy or makes it "easier" for people to get money (usually through bank loans).

     See also | money | monetary policy | Federal Reserve System | open market operations | government securities | bank | bank reserves | discount rate | reserve requirements | tight money | contractionary monetary policy |

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The three most important determinants that shift the factor demand curve are: (1) product price, (2) factor productivity, and (3) prices of other factors. Comparable to any determinant, these three cause the factor demand curve to shift to a new location. An increase in factor demand is a rightward shift of the factor demand curve and a decrease in factor demand is a leftward shift.

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Today, you are likely to spend a great deal of time at the confiscated property police auction wanting to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for the happiest person in the room.
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Much of the $15 million used by the United States to finance the Louisiana Purchase from France was borrowed from European banks.
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