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FINANCIAL CAPITAL: A legal claim to or ownership of a physical asset. Common financial assets are stocks, bonds, money, and government securities. These are also termed paper assets.
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Lesson Contents
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Unit 1: The Concept |
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Unit 2: Two Options |
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Unit 3: The Curves |
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Unit 4: Determinants |
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Unit 5: Connections | |
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Aggregate Supply
In much the same way that the market supply lesson parallels the market demand lesson, this lesson on aggregate supply parallels the aggregate demand lesson. Aggregate supply however, is somewhat more involved that market supply, in particular, because aggregate supply is separated into two relations -- on for the short run and one for the long run. This lesson examines the relation between the price level and real production and the determinants that cause a change in aggregate supply, with a close eye on the differences between aggregate supply in the short run and the long run. - This lesson begins with an introduction to the aggregate supply half of the aggregate market in the first unit.
- The second unit then explores the different aggregate supply relations that exist between the price level and real production in the short run and the long run.
- The third unit introduces the short run aggregate supply curve and the long run aggregate supply curve which capture these two alternative relations.
- We think pick up the keep curve shifting determinants of aggregate supply in the fourth unit, especially the resource quantity, resource quality, and resource prices.
- The fifth unit wraps up this lesson with a discussion of the self-correction mechanism that relies on changes in the aggregate supply and how this relates to business cycle stabilization.
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PARADOX OF THRIFT The notion that an increase in saving, which is generally good advice for an individual during bad economic times, can actually worsen the macroeconomy causing a reduction in aggregate income, production, and paradoxically a decrease in saving. The paradox of thrift is an example of the fallacy of composition stating that what is true for the part is not necessarily true for the whole.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time browsing about a thrift store hoping to buy either 500 feet of coaxial cable or a coffee cup commemorating the 1960 Presidential election. Be on the lookout for pencil sharpeners with an attitude.
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This isn't me! What am I?
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"Before you can inspire with emotion, you must be swamped with it yourself. Before you can move their tears, your own must flow. To convince them, you must yourself believe." -- Sir Winston Churchill
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ICCH
International Commodities Clearing House
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