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TRANSFERRABLE OUTPUT: An output that has a relatively large geographic market area due to the low cost of transportation. The low transportation cost means it is easier (that is, less expensive) to bring the output to the consumers rather than locating consumers near the output. Like many things, transferrable outputs are a matter of degree. At the other end of the spectrum lies local outputs. Most manufactured goods tend to have a high degree of transferability. Information, especially through television broadcasting and Internet web sites, is also relatively easily transported.
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MONETARY AGGREGATE: Any of four basic measures of money, or liquid assets for the economy--M1, M2, M3, and L. The Federal Reserve System, as part of their regulatory duties, regularly publish these four monetary aggregates. The smallest, M1, is used as THE medium of exchange in the economy. However, M2 provides savings that are easily converted to M1 and is considered by many as the best measure of spendable assets. See also | money | M1 | M2 | M3 | Federal Reserve System | bank | fractional-reserve banking | money functions | near money |
Recommended Citation:MONETARY AGGREGATE, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: April 17, 2026].
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THREE QUESTIONS OF ALLOCATION The three basic questions that an economy must answer because of limited resources and unlimited wants and needs are: What? How? and For Whom? The basic problem of scarcity requires every society to determine: What goods to produce? How to produce the goods? And who receives the goods that are produced?
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the shopping mall wanting to buy either a package of blank rewritable CDs or yellow cotton balls. Be on the lookout for slow moving vehicles with darkened windows.
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"Recipe for success. Study while others are sleeping; work while others are loafing, prepare while others are playing, and dream while others are wishing." -- William A. Ward
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BLUE
Best Linear Unbiased Estimator
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