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MANAGED FLOAT: An exchange rate that (like a floating exchange rate) is free to move up and down, but is subject to government control (like a fixed exchange rate) if it moves beyond certain boundaries. With managed float, the government steps into the foreign exchange market and buys or and sells whatever currency is necessary keep the exchange rate within desired limits. The logic behind managed float is that an unrestricted movement of exchange rates is usually pretty healthy, but serious problems in the balance of payment and balance of trade result if it floats too far in either direction.
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Lesson 19: Money Creation | Unit 1: A Little Magic
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Page: 4 of 23
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- That money is currency and checkable deposits, that currency is issued by the federal government, and that checkable deposits, 60% of M1, is issued by commercial banks
- That money is essential to our economy as a medium of exchange, that banks are perpetually balancing assets between profit-seeking loans and deposit-protecting reserves, and that banks are heavily regulated by the government.
- That the mystical source of magic is fractional-reserve banking. And that banks can create money by merely adding it to our checking accounts.
- Banks do part of the money 'printing' or creation function historically performed by governments.
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PHYSICAL WEALTH, AGGREGATE EXPENDITURES DETERMINANT One of several specific aggregate expenditures determinants assumed constant when the aggregate expenditures line is constructed, and that shifts the aggregate expenditures line when it changes. A decrease in physical wealth causes an increase (upward shift) of the aggregate expenditures line. An increase in physical wealth causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include consumer confidence, federal deficit, inflationary expectations, and exchange rates.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex wanting to buy either a set of hubcaps or handcrafted decorations to hang on your walls. Be on the lookout for vindictive digital clocks with revenge on their minds.
Your Complete Scope
This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The only thing that will stop you from fulfilling your dreams is you. " -- Tom Bradley, former Los Angeles mayor
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WLS
Weighted Least Squares
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