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B: The common notation for the "slope" term of an equation specified as Y = a + bX. Mathematically, the b-slope term indicates the change in the value of the Y variable resulting from a unit change in the value of the X variable. Theoretically, the b-slope is frequently used to indicate endogenous or dependent relation between the Y and X variables. For example, if Y represents consumption and X represents national income, b measures induced consumption expenditures.
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Lesson 20: Federal Reserve System | Unit 3: The Fed Pyramid
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Page: 10 of 20
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Commercial banks form the base of the Federal Reserve pyramid. Prior to the 1980's: - The Fed automatically included only national banks.
- State and local banks could chose to become members of the Fed.
- S&Ls, credit unions, and mutual savings banks didn't offer checking accounts and were not part of the system.
Legislation passed in the 1980's brought all checkable-deposit-issuing institutions into the Federal Reserve System. - The Federal Reserve pyramid rests on the non-bank public: households, businesses, and government agencies.
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AVERAGE PRODUCT CURVE A curve that graphically illustrates the relation between average product and the quantity of the variable input, holding all other inputs fixed. This curve indicates the per unit output at each level of the variable input. The average product curve is one of three related curves used in the analysis of the short-run production of a firm. The other two are total product curve and marginal product curve.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway seeking to buy either a flower arrangement for that special day for your mother or a New York Yankees baseball cap. Be on the lookout for high interest rates.
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This isn't me! What am I?
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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NBER
National Bureau of Economic Research
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