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WELFARE: An assortment of programs that provide assistance to the poor. The cornerstone of our welfare system is Aid to Families with Dependent Children (AFDC), which was created by the Social Security Act (1935). It provides cash benefits to assist needy families with children under the age of 18. Funding comes partly from the federal government and partly from states. Because states also administer their own programs, benefits and qualification criteria differ from state to state. A second part of the welfare system, one that's run entirely by the federal government, is Supplemental Security Income (SSI). This program provides cash benefits to elderly, blind, and disabled in addition to any benefits received through the Social Security system. Our welfare system includes a whole bunch of additional benefits, including Medicaid, food stamps, low-cost housing, school lunches, job training, day care, and earned-income tax credits.
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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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FACTOR DEMAND DETERMINANTS The three most important determinants that shift the factor demand curve are: (1) product price, (2) factor productivity, and (3) prices of other factors. Comparable to any determinant, these three cause the factor demand curve to shift to a new location. An increase in factor demand is a rightward shift of the factor demand curve and a decrease in factor demand is a leftward shift.
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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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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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COLA
Cost of Living Adjustment
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