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August 17, 2019 

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HOUSEHOLD: The consuming population of an economy, which pretty much includes every living, breathing human being in a nation. The key contrast here is with business, the organizations responsible for production. In terms of the circular flow, households buy production from businesses through product markets and supply resources to business through factor markets. Check out the household sector for more.

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EXPANSIONARY FISCAL POLICY: A form of stabilization policy consisting of an increase in government spending and/or a decrease in taxes. This policy is designed to avoid or correct the problems associated with a business cycle contraction.

     See also | fiscal policy | business cycle | contraction | government purchases | taxes | transfer payments | stabilization policies | unemployment |


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EXPANSIONARY FISCAL POLICY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: August 17, 2019].


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BANK RUN

A situation in which a relatively large number of a bank's customers attempt to withdraw their deposits in a relatively short period of time, usually within a day or two. While common throughout the 1800s and early 1900s, government deposit insurance has largely eliminated banks runs in the modern economy. Historically a bank run was prompted by fears that the bank was on the verge of collapse, causing deposits to become worthless. Ironically a bank run often caused the bank to fail. Bank runs were often infectious, leading to economy-wide bank panics and business-cycle contractions.

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Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either a how-to book on fine dining or a coffee cup commemorating the first day of winter. Be on the lookout for malfunctioning pocket calculators.
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The average length of a "business lunch" is about 36 minutes.
"The work of the individual still remains the spark that moves mankind forward. "

-- Igor Sikorsky, aeronautical engineer

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