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February 21, 2020 

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SAVINGS AND LOAN ASSOCIATION: A depository institution chartered by the Federal Home Loan Bank that was established to assist home owners with low-cost mortgage loans using savings deposits. However, S&Ls have expanded their activities and now provide most of the services of traditional banks, including checkable deposits.

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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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EASY MONEY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2020. [Accessed: February 21, 2020].


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FULL EMPLOYMENT, LONG-RUN AGGREGATE SUPPLY

The condition that exists when all resources are engaged in production. In practice, however, this condition is virtually impossible to achieve. An economy ALWAYS has some unemployed resources, particularly frictional and structural unemployment. The key characteristic of long-run aggregate supply is that full-employment production is maintained at ALL price levels. In the long run, when all prices and wages are flexible, all markets (financial, product, and especially resource) are in equilibrium, and the level of real production fully employs all available resources.

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