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NET EARNINGS: A common term for profit, as the difference between total revenue and total cost. When used in the real world of business wheeling and dealing, this notion of net income generally refers to accounting profit rather than economic profit. The "net" aspect of net earnings indicates that some (that something being cost) is deducted from total or "gross" earnings. Other common terms used in this same context are net revenue and net income.
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Lesson 19: Money Creation | Unit 2: Fred Returns
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Page: 5 of 23
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Let's do a review of our story of Fred the Goldsmith.- Fred the Goldsmith, has developed several modern banking functions.
- Gold, his raw material, is also the economy's medium of exchange, so he has found the SAFEKEEPING function.
- Requests to store extra gold owned by Bill the Knight and others is the DEPOSITORY function of modern banks.
- Requests to borrow gold by Elizabeth the Innkeeper, has led to the LENDING function of modern banks.
- The need to keep some of the gold deposited, but not all of it, has led to the modern banking function of backing deposits with reserves, FRACTIONAL-RESERVE banking.
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EXCHANGE RATES, 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. An increase in the exchanges rates causes an increase (upward shift) of the aggregate expenditures line. A decrease in the exchanges rates causes a decrease (downward shift) of the aggregate expenditures line. Other notable aggregate expenditures determinants include consumer confidence, federal deficit, inflationary expectations, and interest rates.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages looking to buy either a replacement remote control for your stereo system or a computer that can play video games and burn DVDs. Be on the lookout for telephone calls from former employers.
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This isn't me! What am I?
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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NLLS
Nonlinear Least Squares
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