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PPC: The abbreviation for production possibilities curve, which is a curve that illustrates the production possibilities for the economy. A production possibilities curve represents the boundary or frontier of the economy's production capabilities. That's why it's also frequently termed a production possibilities frontier (or PPF). As a frontier, it is the maximum production possible given existing (fixed) resources and technology. Producing on the curve means resources are fully employed, while producing inside the curve means resources are unemployed. The law of increasing opportunity cost is what gives the curve its distinctive convex shape.
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Lesson Contents
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Unit 1: The Fed |
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Unit 2: What It Does |
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Unit 3: The Fed Pyramid |
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Unit 4: Monetary Policy |
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Unit 5: Issues | |
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Federal Reserve System
In this lesson, we take a detailed look at the government entity that is directly responsible for controlling the money supply and undertaking business-cycle stabilizing monetary policy -- the Federal Reserve System. The Federal Reserve System is the U.S. economy's number one bank regulator. And they do this regulation with the goal of ensuring the that the nation has just the right about money to avoid high rates of unemployment and inflation. To understand how the Federal Reserve System does it's job, we take a close look at how it is structure and policy tools it has under its' control. - The first unit introduces the Federal Reserve System, with a discussion of King Clarence and his role in assisting the operations of Fred the Goldsmith.
- In the second unit we take a look at the importance of controlling the banking system, and the consequences if the control is ineffective.
- The structure of the Federal Reserve System is examined in the third unit, with the highlights being the Chairman of the Federal Reserve System and the Federal Open Market Committee.
- The fourth unit then explores the assorted policy tools used by the Federal Reserve System to control the banking system and the money supply, including open market operations, discount rate, and reserve requirements.
- We close out this lesson in the fifth unit with a few thoughts on the role politics play in the formulation of monetary policies.
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ECONOMIC SCIENCE The application of the scientific method to economic phenomena and topics related to the fundamental problem of scarcity. Economic science, also termed positive economics, is one of several social sciences that apply the scientific method to the study of human behavior.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either storage boxes for your winter clothes or several magazines on time travel. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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Two and a half gallons of oil are needed to produce one automobile tire.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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KSE
Korea Stock Exchange
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