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WEIGHT: When applied to location theory, the relative attractive force of one activity to another based on transportation cost. The weight of an activity in this context is comparable to the weight of matter subject to gravitation forces. The weight of an activity is greater if it incurs higher transportation cost. As such, it is attracted, or pulled, to other activities to reduce transportation cost. With the weight (transportation cost) of an activity is often related to physical weight (heavier items cost more to move), it need not be. Other factors affecting weight include special handling (security, comfort) and type of transportation (walking, automobile, airplane).
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Lesson Contents
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Unit 1: Basic Flow |
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Unit 2: Financial Markets |
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Unit 3: Government |
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Unit 4: Foreign |
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Unit 5: Real World | |
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Circular Flow
This lesson introduces the circular flow model of the macroeconomy. The circular flow is a simple model based on the buying and selling relation between the household and business sectors which occurs through the product and factor markets. As a bonus, we complicate the simply circular flow model, by including the government and foreign sectors, and the financial markets. This lesson introduces several important macroeconomic concept, but more importantly, provides a useful model for interpreting macroeconomic activity. - In the first unit, we get an introduction to the simplest circular flow model that includes the household and business sectors and the product and factor markets.
- The second unit builds on the simple model by introducing the financial markets, which highlights the importance of household saving and business investment.
- The circular flow is expanding further in the third unit, with the introduction of the government sector, which highlights how taxes are diverted away from the household sector.
- The fourth unit adds one more sector to the circular flow model, the foreign sector, which illustrates the roles played exports and imports.
- The fifth unit wraps up this lesson by showing how several key measures of production and income revealed in the analysis of gross domestic production related to the circular flow.
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RESERVE REQUIREMENTS Rules established and enforced by the Federal Reserve System governing the amount of reserves (vault cash and Federal Reserve deposits) that banks must keep to back up their deposits. Reserve requirements help to maintain a stable banking system and ensure that banks are able to conduct day-to-day check-clearing and cash-withdrawal transactions. These requirements are also one of the three monetary policy tools that the Fed can use, in principle, to control the money supply. The other two are open market operations and the discount rate.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time surfing the Internet trying to buy either a computer that can play video games and burn DVDs or a black duffle bag with velcro closures. Be on the lookout for rusty deck screws.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. " -- Steve Jobs, Apple Computer founder
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LTT
Long-Term Trend
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