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WILDCAT STRIKE: An unofficial and usually spontaneous strike or work stoppage by union members. A wildcat strike is not authorized by the labor union representing the workers. Such strikes generally occur because (1) labor has specific problems or concerns that have not been satisfactorily addressed by employers or (2) workers feel that union leaders are not acting in the best interest of the union members. This is also termed an outlaw strike.

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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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FALLACY OF FALSE CAUSE

The logical fallacy of arguing that two events have a causal connection because they are correlated (that is, happen at about the same time). In other words, one event is erroneously assumed to cause the other. This fallacy is the nemesis of the ongoing scientific pursuit to discover the laws of cause and effect.

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BEIGE MUNDORTLE
[What's This?]

Today, you are likely to spend a great deal of time browsing through a long list of dot com websites looking to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for crowded shopping malls.
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This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

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