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RISK AVERSE: A person who values a certain income more than an equal amount of income that involves risk or uncertainty. To illustrate, let's say that you're given two options--(A) a guaranteed $1,000 or (b) a 50-50 chance of getting either $500 or $1,500. If you chose option A, then you're risk averse. Both options give you the same "expected" values. In other words, if you select option B a few hundred times, then your average amount over those few hundred times is $1,000.
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Lesson 19: Money Creation | Unit 1: A Little Magic
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Page: 1 of 23
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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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SEASONAL UNEMPLOYMENT Unemployment attributable to relatively regular and predictable declines in particular industries or occupations over the course of a year, often corresponding with the climatic seasons. Unlike cyclical unemployment, which may or may not occur at any given time, seasonal unemployment is an essential part of many jobs. For example, a regular, run-of-the-mill, department store Santa Clause can count on 11 months of unemployment each year. Seasonal unemployment is one of four unemployment sources. The other three are cyclical unemployment, frictional unemployment, and structural unemployment.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either arch supports for your shoes or an AC adapter that works with your MPG player. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Approximately three-fourths of the U.S. paper currency in circular contains traces of cocaine.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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AEA
American Economic Association
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