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LIBERAL: A political view that favors--(1) paternalistic government, (2) correction of market failure with government intervention, (3) equal opportunities for all citizens regardless of race, age, gender, ethnic origin, or planet of origin, (4) redistribution of income and wealth, and (5) extensive regulation and control by government over the profit-seeking businesses of the second estate.
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Lesson 17: Money | Unit 3: Monetary Aggregates
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Page: 16 of 25
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- The concept and definition of M1, which is the sum of currency and coins held by the non-bank public, and checkable deposits.
- That credit cards are not part of M1, they are not money.
- That M2 is a broader measure of money that includes M1 plus what we can call near money, that is, temporary savings, a pool of funds that can be accessed quickly and easily.
- That near monies are savings and that there are several different types of savings: standard savings accounts, certificates of deposit (CDs), money market funds, overnight Eurodollars and overnight repurchase agreements.
- M3 is equal to M2 plus other near monies which include larger denomination certificates of deposit and longer-term repurchase agreements.
- Liquid assets L, are the economy's total financial assets that can be converted to M1.
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NET EXPORTS LINE A graphical depiction of the relation between net exports attributed to the foreign sector and the economy's aggregate level of income or production. This relation plays a minor, but growing role in the study of Keynesian economics. A net exports line is characterized by vertical intercept, which indicates autonomous net exports, and slope, which is the negative of the marginal propensity to import and indicates induced net exports. The aggregate expenditures line used in Keynesian economics is derived by adding or stacking the net exports line onto the consumption line, after adding investment expenditures and government purchases.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs seeking to buy either one of those "hang in there" kitty cat posters or a velvet painting of Elvis Presley. Be on the lookout for deranged pelicans.
Your Complete Scope
This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"The true idealist pursues what his heart says is right in a way that his head says will work. " -- Richard Nixon, 37th US president
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PWAC
Present Worth of Annual Costs
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