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JOB: Specific employment activities associated with a production process that are usually undertaken by a single worker. For example, someone might have the job of serving food or repairing cars. Others might have the job of teaching economics. The word "job" is the primary designation applied to a worker when hired by an employer. It is commonly used as a modifier for other terms, such as job satisfaction or job security, as reference to specific aspects of working or employment.

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Lesson 17: Money | Unit 3: Monetary Aggregates Page: 14 of 25

Topic: M3 <=PAGE BACK | PAGE NEXT=>

M3 is equal to M2 plus other near monies.
  • We have five trillion dollars of M3.
  • M3 averaged over 270 million people in the U. S. is about $18,000 per person.
  • Other near monies added to M3 are less liquid than the M2 near monies.
  • M3 other near monies are essentially investments.

M3 other near monies:

  • Larger denomination certificates of deposit and longer-term repurchase agreements.
  • M2 includes CDs less than $10,000.
  • M3 includes CDs over $100,000.
  • M3 includes repurchase agreements and Eurodollars of longer duration than the ones M2 includes.
  • These longer term and bigger M3 other near monies are less liquid than the M2 near monies.

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DECREASING-COST INDUSTRY

A perfectly competitive industry with a negatively-sloped long-run industry supply curve that results because expansion of the industry causes lower production cost and resource prices. A decreasing-cost industry occurs because the entry of new firms, prompted by an increase in demand, causes the long-run average cost curve of each firm to shift downward, which decreases the minimum efficient scale of production.

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Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a how-to book on meeting people or clothing for your pet iguana. Be on the lookout for a thesaurus filled with typos.
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The penny is the only coin minted by the U.S. government in which the "face" on the head looks to the right. All others face left.
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