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WEALTH OF NATIONS, THE: Officially titled "An Inquiry into the Nature and Causes of the Wealth of Nations", this book written by Adam Smith and published in 1776, is considered to be the foundation for the modern study of economics. The Wealth of Nations was the first to combine assorted economic discourse and analyses into a single book. One of its most important themes is the efficiency of free trade and market exchanges unrestricted by government that leads to macroeconomic full employment and microeconomic efficiency. The Wealth of Nations is one of the most famous books worldwide. It continues to provide economic insight over two hundred years after its initial appearance.
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Lesson 18: Banking | Unit 4: Regulating Banks
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Page: 21 of 24
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- That banking is one of the most heavily regulated industries in the economy.
- The main reasons of bank regulations:
- When balance between profit and safety fails, customers lose trust and banks may have to shut down.
- Banks control 60% of the M1 money supply.
- The problems for the economy when banks get carried away seeking profits without having enough deposit-protecting reserves.
- The main institutions which regulate banking activities and their main functions: Federal Reserve System (Fed), Federal Deposit Insurance Corporation (FDIC), and Comptroller of the Currency.
- The ways in which banks are regulated.
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INFLATION CAUSES Inflation, the persistent increase in the average price level, can be caused by an increase in aggregate demand or a decrease in aggregate supply. This suggests two basics sources, causes, or types of inflation--demand-pull inflation and cost-push inflation. While short-term bouts of inflation (up to several months) can result from anything (determinant) that might cause either increases in aggregate demand or decreases in aggregate supply, long-term inflation (a year or more) is possible ONLY through persistent increases in the money supply. As such, while demand-pull inflation and cost-push inflation are convenient ways to catalog the transmission mechanisms of inflation, the ultimate CAUSE of inflation is money.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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LIFO
Last In First Out
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