|
|
OVER-THE-COUNTER MARKET: A market that trades corporate stocks and other securities using a computerized network of dealers rather than an organized exchange. Over-the-counter market is most often used in reference to the National Association of Securities Dealers. Stocks traded over the counter tend to be smaller, less well-known, technology based firms. Start-up firms often begin offering their stock over the counter, then once established they move to organized exchanges, especially the New York Stock Exchange or the American Stock Exchange.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 19: Money Creation | Unit 2: Fred Returns
|
Page: 7 of 23
|
Elizabeth needs a loan, but she doesn't want gold, she wants receipts, she wants money.Remember that: - Fred issues receipts only for deposits.
- Can he just issue receipts?Two options:
- One: Fred can loan gold from his safe, which Elizabeth can deposit for receipts.
- Two: Fred can loan Elizabeth the receipts directly. Note that:
- With both, Elizabeth ends up with receipts and Fred ends up with the same amount of gold in his safe.
- With both, receipts are not all backed by gold: The loan increases the number of receipts in circulation.Fractional-reserve banking:
- If every receipt is redeemed, then Fred is in trouble.
- But Fred knows that only a fraction of the gold is redeemed at any given time.
|
|
|
|
|
|
|
AVERAGE FACTOR COST CURVE, PERFECT COMPETITION A curve that graphically represents the relation between average factor cost incurred by a perfectly competitive firm for employing an input and the quantity of input used. Because average factor cost is essentially the price of the input, the average factor cost curve is also the supply curve for the input. The average factor cost curve for a perfectly competitive firm with no market control is horizontal. The average revenue curve for a firm with market control is positively sloped.
Complete Entry | Visit the WEB*pedia |
|
|
BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time calling an endless list of 800 numbers trying to buy either a pair of red goulashes with shiny buckles or a handcrafted bird feeder. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
The first paper notes printed in the United States were in denominations of 1 cent, 5 cents, 25 cents, and 50 cents.
|
|
|
"Inside the ring or out, ain't nothing wrong with going down. It's staying down that's wrong. " -- Muhammad Ali
|
|
JLE
Journal of Law and Economics
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
