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TRADE BARRIER: A restriction, invariably by government, that prevents free trade among countries. The more popular trade restrictions are tariffs, import quotas, and assorted nontariff barriers. An occasional embargo will be even thrown into this mix. The primary use of trade barriers is to restrict imports from entering in country. By restring imports, domestic producers of the restricted goods are protected from competition and are even subsidized through higher prices. Consumers, though, get the short end of this stick with higher prices and a limited choice of goods. In that producers tend to have more political clout than consumers, it's pretty obvious why trade barriers are a "natural" state of affairs.
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Lesson 20: Federal Reserve System | Unit 4: Monetary Policy
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Page: 17 of 20
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In addition to open market operations, discount rate, and reserve requirements, the Fed has an additional tool called moral suasion. Moral suasion: - It is a policy in which the Fed, usually the Chairman of the Board of Governors, requests that the banking system take some sort of action.
- These requests are usually contrary to what banks are currently doing and likely to do under current economic conditions.
- Moral suasion can and does work in the short run, especially during crisis periods.
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HERFINDAHL INDEX A measure of concentration of the production in an industry calculated as the sum of the squares of market shares for each firm. This is one method of summarizing the degree to which an industry is oligopolistic and the concentration of market control held by the largest firms in the industry. Two other measures of industry concentration are the four-firm concentration ratio and the eight-firm concentration ratio.
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The average bank teller loses about $250 every year.
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"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
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AP
Average Product
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