|
|
FACTOR MARKET EQUILIBRIUM: Equilibrium in the factor market, which for a perfectly competitive market is achieved at the factor price and factor quantity give by the intersection of the factor demand curve and the factor supply curve. For factor markets that are not perfectly competitive, such as those controlled by monopoly or monopsony, factor market equilibrium is achieved when the controlling firm maximizes profit. For monopoly, this is the factor quantity that equates marginal revenue and marginal cost. For monopsony, this is the factor quantity that equates marginal revenue product with marginal factor cost. But regardless of marginal structure, as an equilibrium it is maintained until shocked by an external force.
Visit the GLOSS*arama
|
|
|
|
|
Lesson 20: Federal Reserve System | Unit 1: The Fed
|
Page: 3 of 20
|
- The basics of how Clarence the King discovered the regulatory function of the modern banking system.
- That the Federal Reserve System keeps banks operating through a combination of regulatory oversight and emergency reserves.
- That the Federal Reserve is a central bank, which is a government established and sanctioned bank with assorted financial tasks.
- That the Federal Reserve regulates the banking system and control the money supply.
- That the Federal Reserve was established in 1913 to prevent failed banks from shrinking the money supply and causing business cycles contractions.
|
|
|
|
|
|
|
COMMUNISM In theory, an economy, or economic system, based on--(1) a classless society, where everyone does their best to contribute to the common good, (2) common, rather than individual, ownership of all resources, (3) the complete disappearance of government, and (4) income allocated based entirely on need rather than on resource ownership or contribution to production. In practice, communism is a type of command economy based on--(1) government ownership and control of most resources, goods, and other assets and (2) excruciatingly detailed central planning by government.
Complete Entry | Visit the WEB*pedia |
|
|
GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for rusty deck screws.
Your Complete Scope
This isn't me! What am I?
|
|
|
The word "fiscal" is derived from a Latin word meaning "moneybag."
|
|
|
"Courage is the ladder on which all the other virtues mount." -- Claire Boothe Luce, diplomat, writer
|
|
MGE
Minneapolis Grain Exchange
|
|
|
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
|
|
