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AGGREGATE MARKET: An economic model relating the price level and real production that is used to analyze business cycles, gross domestic product, unemployment, inflation, stabilization policies, and related macroeconomic phenomena. The aggregate market, inspired by the standard market model, captures the interaction between aggregate demand (the buyers) and short-run and long-run aggregate supply (the sellers).
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Lesson 19: Money Creation | Unit 1: A Little Magic
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First:- Money is currency and checkable deposits.
- Currency is issued by the federal government.
- Checkable deposits are issued by commercial banks.
Second: - Money is the medium of exchange.
- Money makes production and exchange more efficient.
- Too much money causes inflation and too little causes recession.
Third: - Banks balance profit-seeking loans and deposit-protecting reserves.
- Because a failed bank can trigger economic instability, banks are heavily regulated by the government.
Note:- Controlling checkable deposits is controlling a little magic.
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EQUALITY STANDARD An income distribution standard in which income is divided equally among members of society. This is one of three basic income distribution standards that answers the For Whom? question of allocation. The other two are the contributive standard and the needs standard.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
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"I can feel guilty about the past, apprehensive about the future, but only in the present can I act." -- Abraham Maslow, Psychologist
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GSP
Gross State Product
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