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USER CHARGE: A tax that's disguised as a price--a charge for the use of a publicly provided good. Government produces and supplies a number of near-public goods, like education, libraries, parks, and transportation systems. The "prices" for these goods are user charges. The logic is that people who benefit from the good and are willing to pay, should pay for them. While this helps pay production costs, it tends to be inefficient.
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Lesson 19: Money Creation | Unit 1: A Little Magic
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Page: 3 of 23
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The magic is that banks create something of value: they create money. Note that: - To create other valuable items we need valuable resources.
- Banks create money by adding to a checking account.
Precedents:- Governments have done this for centuries: When they print paper currency, they transform items with little or no value into money with more value, value that is created from nothing.
The reality of money creation:- Banks do part of the money 'printing' or creation function historically performed by governments.
- This is the reason why banks are heavily regulated.
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BALANCED-BUDGET MULTIPLIER A measure of the change in aggregate production caused by equal changes in government purchases and taxes. The balanced-budget multiplier is equal to one, meaning that the multiplier effect of a change in taxes offsets all but the initial production triggered by the change in government purchases. This multiplier is the combination of the expenditures multiplier, which measures the change in aggregate production caused by changes in an autonomous aggregate expenditure, and the tax multiplier which measures the change in aggregate production caused by changes in taxes.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a replacement battery for your pocket calculator or a how-to book on home remodeling. Be on the lookout for strangers with large satchels of used undergarments.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
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"The greatest things ever done on Earth have been done little by little. " -- William Jennings Bryan
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IBF
International Banking Facility
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