AmosWEB is Economics: GLOSS*arama

Thursday
September 2, 2010

AmosWEB means Economics with a Touch of Whimsy!

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AGGREGATE EXPENDITURES LINE: A line representing the relation between aggregate expenditures and gross domestic product used in the Keynesian cross. The aggregate expenditure line is obtained by adding investment expenditures, government purchases, and net exports to the consumption line. As such, the slope of the aggregate expenditure line is largely based on the slope of the consumption line (which is the marginal propensity to consume), with adjustments coming from the marginal propensity to invest, the marginal propensity for government purchases, and the marginal propensity to import. The intersection of the aggregate expenditures line and the 45-degree line identifies the equilibrium level of output in the Keynesian cross.

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production possibilities curve (480)
monopolistic competition (417)
oligopoly (396)
law of increasing opportunity cost (392)
midpoint elasticity formula (340)

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LAISSEZ FAIRE: A french term that translates into "leave us alone." It has become the rallying cry for many business leaders of the second estate who oppose government intervention, regulation, or even taxation. It's based on the belief that markets alone can achieve an efficient allocation of our resources. This laissez faire philosophy of should be contrasted directly with the philosophy of paternalism, which essentially says "Government needs to care for you because you can't care for yourself."

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LAISSEZ FAIRE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2010. [Accessed: September 2, 2010].

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BANK ASSETS

What a bank owns, including loans, reserves, investment securities, and physical assets. Bank assets are typically listed on the left-hand side of a bank's balance sheet. Bank liabilities, what a bank owes, are listed on the right-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The largest asset category of most bank is loans, which generates interest revenue. A critical asset category used to maintain the safety of deposits is reserves (vault cash and Federal Reserve deposits).

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State of the ECONOMY

Productivity in Manufactuing
2nd Quarter of 2010
Annual Growth Rate Dropped 0.9%
Labor costs rose 0.2%

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