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PERFECT PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed first-degree price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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Lesson 17: Money | Unit 3: Monetary Aggregates
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Page: 15 of 25
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L is the economy's total financial assets that can be converted to M1.- L stands for liquid assets.
- Total L is over six trillion dollars.
We get to L by adding liquid assets to M3: - Commercial paper
- U.S. Treasury Bills
- Saving Bonds
- Banker's acceptances
- These big-time assets can be converted to M1 in short order, with little loss of value.
- However, these assets aren't as easily converted to M1 as the near monies added to M2 and M3.
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CONSERVATIVE A political view that favors--(1) limited government intervention in the economy, (2) extensive reliance on markets, (3) strong national defense, (4) protection and promotion of existing cultural ideals and beliefs, and (5) economic rewards predominately based on productive efforts.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction hoping to buy either a battery-powered, rechargeable vacuum cleaner or a remote controlled World War I bi-plane. Be on the lookout for infected paper cuts.
Your Complete Scope
This isn't me! What am I?
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A communal society, a prime component of Karl Marx's communist philosophy, was advocated by the Greek philosophy Plato.
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"To sit back and let fate play its hand out, and never influence it, is not the way man was meant to operate." -- John Glenn, astronaut, U.S. senator
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QJE
Quarterly Journal of Economics
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