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NIRA: The common abbreviation for the National Industrial Recovery Act, which was one of the first acts passed under New Deal program the Roosevelt administration in 1933. The NIRA specifically allowed workers to organized into unions and to engage in collective bargaining without interference from firms. This act was declared unconstitutional in 1935, but while in force gave a big boost to labor unions and membership. The National Labor Relations Act was created in 1935 to replace the NIRA.
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Lesson Contents
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Unit 1: Instability |
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Unit 2: A Simple Cycle |
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Unit 3: Measurement |
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Unit 4: Causes |
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Unit 5: Policies | |
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Business Cycles
To purpose of this lesson is to examine the nature and causes of macroeconomic instability, which goes by the handy title business cycles. Business cycles are the recurring expansions and contractions of economic activity that generate the problems of unemployment and inflation. This lesson explores how business cycles can be stabilized with the goal of lessening unemployment and inflation. - The notion of business cycles is introduced in the first unit of this lesson, with an eye on what they are and why they are important to study.
- The four components of a standard, simple business cycle -- expansion, peak, contraction, and trough -- are then presented and discussed in the second unit.
- The third unit is devoted to several key measures of business cycle activity, especially leading, lagging, and coincident indicators.
- A couple of the most often discussed causes of business-cycle instability -- investment and politics -- are discussed in the fourth unit.
- The fifth unit closes out this lesson with an introduction to the expansionary and contractionary economic policies used to stabilize business cycles.
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BANK LIABILITIES What a bank owes, including most notably customer deposits. Bank liabilities are typically listed on the right-hand side of a bank's balance sheet. Bank assets, what a bank owns, are listed on the left-hand side of a bank's balance sheet. Net worth is the difference between assets and liabilities. The most important liability category of most bank is checkable deposits, which is part of the economy's M1 money supply. The largest liability category includes other types of deposits (especially savings deposits, certificates of deposit, and money market deposits) that enter into the M2 and M3 monetary aggregates.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors hoping to buy either several magazines on computer software or a T-shirt commemorating the second moon landing. Be on the lookout for poorly written technical manuals.
Your Complete Scope
This isn't me! What am I?
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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SDR
Special Drawing Right
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