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FACTOR PAYMENT: A wage, interest, rent, and profit payment for the services of scarce resources, or the factors of production (labor, capital, land, and entrepreneurship), in return for productive services. Factor payments are frequently categorized according to the services of the productive resource. Wages are paid for the services of labor, interest is the payment for the services of capital, rent is the services for land, and profit is the factor payment to entrepreneurship. In the circular flow, these are payments made by the business sector for factor services purchased from the household sector through the financial markets.
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Lesson 20: Federal Reserve System | Unit 1: The Fed
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Page: 2 of 20
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The Federal Reserve System helps banks through a combination of regulation and emergency reserves. First: It is central bank, a government established and/or sanctioned bank with assorted financial tasks, that regulates the banking system and controls the money supply. It is a decentralized central system with several banks spread around the country. Second: It was established in 1913, in response to the Bank Panic of 1907, to prevent failed banks from shrinking the money supply and causing business cycle contractions. Third: While it's original purpose was to provide banks with reserves, it more recently uses the money supply to conduct monetary policy and stabilize the business cycle.
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AGGREGATE EXPENDITURES DETERMINANTS Ceteris paribus factors, other than aggregate income or production, that are held constant when the aggregate expenditures line is constructed and which cause the aggregate expenditures line to shift when they change. Some of the more important aggregate expenditures determinants are interest rates, expectations, fiscal policy, wealth, and exchange rates.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages wanting to buy either a replacement washer for your kitchen faucet or a stretchable, flexible watch band. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope
This isn't me! What am I?
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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"The past is a foreign country; they do things differently there." -- Leslie Poles Hartley, Writer
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NBV
Net Book Value
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