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AAUP: The abbreviation for American Association of University Professors, which is an association of university and college faculty established in 1915 to protect academic freedom. The AAUP is the closest thing university faculty have to a labor union. While it does engage in some collective bargaining functions with specific universities, similar to traditional labor unions, its primary function is to ensure that faculty maintain intellectual or academic freedom from political of social pressures.
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Lesson 18: Banking | Unit 2: Banking Details
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Page: 7 of 24
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A third type is a credit union. History: - The first credit union was created in 1909.
- Experienced tremendous growth after WWII.
- Primary regulator is the National Credit Union Association (NCUA).
- Created for reasons similar to labor unions.
Credit unions: - Relatively small, non-profit entities, associated with a particular business or group with something in common.
- Pool savings and make personal loans to members.
Evolution: - Originally offered limited banking services.
- Began offering checking accounts in the 70's, which gave them control over part of the M1 money supply.
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EFFECTIVE DEMAND A key conceptual notion of Keynesian economics stipulating that the aggregate expenditures on real production is based on existing or actual income rather than the income that would be generated with full employment of resources. Effective demand is embodied in the aggregate expenditures line, which has a positive slope, but a slope of less than one. This concept was proposed by Thomas Robert Malthus in the early 1800s as a counter argument to Say's law found in classical economics and then found new life when John Maynard Keynes developed his theory in the 1930s.
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GREEN LOGIGUIN
[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 how-to book on surfing the Internet or a computer that can play music and burn CDs. Be on the lookout for letters from the Internal Revenue Service.
Your Complete Scope
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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"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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PIT
Personal Income Tax
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