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FEDERAL SAVINGS AND LOAN INSURANCE CORPORATION: Abbreviated FSLIC, this was once the federal entity responsible for insuring the deposits at savings and loan associations (S&Ls). It performed the same function for S&Ls that the Federal Deposit Insurance Corporation (FDIC) performed for traditional banks. However, when a significant number S&Ls experienced problems in the 1980s and effectively bankrupting the FSLIC, the FDIC assumed the deposit insurance role for any remaining S&Ls, too.
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Lesson Contents
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Unit 1: Demand Theory |
Unit 2: Total Utility |
Unit 3: Marginal Utility |
Unit 4: The Curves |
Unit 5: Taking Stock |
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Consumer Demand
This lesson discusses the basics of consumer demand theory, especially the notion of utility. Utility is the fancy-schmancy economic term that means satisfying wants and needs. The purpose of this lesson is to set the stage for a behind-the-scenes look at the demand-side of the market. Because the prices buyers are willing to pay for the goods depend on the utility, an understanding of demand requires an understanding of utility. - The first unit of this lesson, Demand Theory, introduces the concept of utility and previews the relation between utility, consumer decision making, and demand.
- In the second unit, Total Utility, we take a look at the first of two key technical notions of utility are used to examine the relation between utility and demand.
- The third unit, Marginal Utility, presents and discusses the second of the two technical notions of utility, and the most important notion underlying demand.
- The fourth unit, The Curves, illustrates the total utility and marginal utility concepts with handy graphs.
- The fifth unit, Taking Stock, then wraps up this lesson with an extended preview of the relation between utility and demand.
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AGGREGATE EXPENDITURES LINE A graphical depiction of the relation between aggregate expenditures by the four macroeconomic sectors (household, business, government, and foreign) and the level of aggregate income or production. In Keynesian economics, the aggregate expenditures line is the essential component of the Keynesian cross analysis used to identify equilibrium income and production. Like any straight line, the aggregate expenditures line is characterized by vertical intercept, which indicates autonomous expenditures, and slope, which indicates induced expenditures. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking investment, government purchases, and net exports to the consumption line.
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BLACK DISMALAPOD [What's This?]
Today, you are likely to spend a great deal of time watching infomercials wanting to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for slightly overweight pizza delivery guys. Your Complete Scope
This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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NI National Income, Net Income
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