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APC: The abbreviation for average propensity to consume, which is the proportion of income, usually measured as disposable income or national income, used for household consumption expenditures. It is found by dividing consumption by income. The average propensity to consume, abbreviated APC, most often pops up in discussions of Keynesian economics. The average propensity to consume is the average amount of total household income that is devoted consumption expenditures.

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Lesson 20: Federal Reserve System | Unit 2: What It Does Page: 4 of 20

Topic: Money Control <=PAGE BACK | PAGE NEXT=>

The Fed is responsible for ensuring that the economy has the proper amount of money in circulation.
  • In the old days, governments controlled the money supply by printing and minting money.
  • In modern times, with bank checkable deposits in the money supply, the Fed controls money by controlling banks.

Two reasons:

  • First: Too much money causes inflation and too little money leads to recession and unemployment. The challenge is to keep enough money in circulation.
  • Second: Money is absolutely essential in a modern complex economy. Faith in the value of fiat money is best provided by a centralized, national government that has the authority to ensure the value of money.

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IMPLICIT LOGROLLING

The trading of votes to ensure a favorable outcome for two or more separate decisions undertaken by combined both decisions into a single vote. Commonly practiced in legislative bodies, implicit logrolling occurs when two separate programs or policies are combined into a single package, which is then subject to a single vote. The contrast is with explicit logrolling in which each of two voters agree to cast separate votes for two separate programs. Whether implicit or explicit, logrolling is generally used when neither decision is able to obtain the necessary majority of the votes needed for passage on their own accord.

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Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a large, stuffed kitty cat or a cross-cut paper shredder. Be on the lookout for crowded shopping malls.
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Junk bonds are so called because they have a better than 50% chance of default, carrying a Standard & Poor's rating of CC or lower.
"When you play, play hard; when you work, don't play at all. "

-- Theodore Roosevelt, 26th US president

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