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INCREASING OPPORTUNITY COST: The proposition that opportunity cost, the value of foregone production, increases as more of a good is produced. This 'law' is most important to the slope of the production possibilities curve. It generates the convex shape of the curve, making the curve flat at the top and steep at the bottom.
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MONEY CHARACTERISTICS: Almost any item, any asset, any "thing" can function as money so long as it is generally accepted as payment. In fact, a lot of different "things" have been used as money over the centuries. While a number of "things" have been used as money, some have worked better than others. Those "things" that didn't work so well were replaced by other "things" that worked better. Those "things" that worked best tended to have four basic characteristics: (1) durability, (2) divisibility, (3) transportability, and (4) noncounterfeitability. See also | money | money functions | barter | currency | checkable deposits |
Recommended Citation:MONEY CHARACTERISTICS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2019. [Accessed: June 17, 2019].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: money characteristics
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MONETARY POLICY Control over the money supply and interest rates by a central bank or monetary authority to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States monetary policy is undertaken by the Federal Reserve System (the Fed). In principle, Federal Reserve policy makers can use three different tools--open market operations, the discount rate, and reserve requirements--to manipulate the money supply. In practice, however, the primary tool employed is open market operations. An alternative to monetary policy is fiscal policy.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either a package of 3 by 5 index cards, the ones without lines or a blue mechanical pencil. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"The secret of getting ahead is getting started. The secret of getting started is breaking your complex, overwhelming tasks into small manageable tasks, and then starting on the first one. " -- Mark Twain, writer
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DARA
Decreasing Absolute Risk Aversion
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