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May 9, 2025 

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TIGHT MONEY: A term used when the Federal Reserve System pursues contractionary monetary policy. In other words, to contract our economy out of an inflationary expansion, the Fed decreases the amount of money in the economy or makes it "tighter" for people to get money (usually through bank loans).

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INEFFICIENCY: When the economy is NOT obtaining the highest level of consumer satisfaction from the available resources. Inefficiency occurs if it is possible to reallocate resources in a way that would generate greater satisfaction.

     See also | efficiency | satisfaction | resources | scarcity | opportunity cost | market failures | market control | public good | externalities | information | good types | public choice | bureaucracy | principal-agent problem | special interest group | rational abstention | government functions | fourth rule of competition | fifth rule of imperfection | sixth rule of ignorance |


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INEFFICIENCY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: May 9, 2025].


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PERFECT COMPETITION, SHUTDOWN

A perfectly competitive firm is presumed to shutdown production and produce no output in the short run, if price is less than average variable cost. This is one of three short-run production alternatives facing a firm. The other two are profit maximization (if price exceeds average total cost) and loss minimization (if price is greater than average variable cost but less than average total cost).

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. "

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