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SHORT-RUN AGGREGATE SUPPLY CURVE: A graphical representation of the short-run relation between real production and the price level, holding all ceteris paribus aggregate supply determinants constant. The short-run aggregate supply, or SRAS, curve is one of two curves that graphical capture the supply-side of the aggregate market; the other is the long-run aggregate supply curve (LRAS). The demand-side of the aggregate market is occupied by the aggregate demand curve. The positive slope of the SRAS curve captures the direct relation between real production and the price level that exists in the short run.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 6 of 24
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The second type is a savings and loans association. History: - Created by the Federal Home Loan Act after the WWII.
- Promoted homed ownership for the middle class.
- Regulated by the Federal Home Loan Bank and by the Federal Savings and Loan Deposit Insurance Corporation.
- Operated during the 50's and 60's using the 3-6-3 rule.
- Used savings accounts to make mortgage loans.
- Didn't offer checking accounts or business loans.
Changes in the 70's: - Went for riskier loans and offered checking accounts.
In the 80's: - Many went out of business, others merged with traditional banks, and a few survived.
- Operate now like traditional banks: Offer the same services and come under the same regulations.
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STORE OF VALUE The money function in which money is used as a means of postponing the satisfaction obtained from using or consuming goods until a later time. Value is obtained from a good when it is consumed, when it is used to satisfy wants and needs. The value from consuming goods can be stored in several different ways, one of which is money. This is one of four basic functions of money. The other three are medium of exchange, unit of account, and standard of deferred payment.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store seeking to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for cardboard boxes.
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This isn't me! What am I?
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A half gallon milk jug holds about $50 in pennies.
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"Act well at the moment, and you have performed a good action for all eternity." -- Johann Kaspar Lavater
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IARA
Increasing Absolute Risk Aversion
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