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OMO: The abbreviation for open market operations, which is the Federal Reserve System's buying and selling of government securities in an effort to alter bank reserves and subsequently the nation's money supply. These actions, under the direction of the Federal Open Market Committee, are the Fed's number one, most effective, most often used tool of monetary policy. If, for example, the Fed wants to increase the money supply (termed easy money) it buy's government securities. If the Fed chooses to reduce the money supply (called tight money) it sells some government securities.
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Lesson 3: Scarcity | Unit 4: College Cost
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Page: 14 of 17
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- The opportunity cost of a college education.
- Why explicit, out-of-pocket payments are only part of the opportunity cost of an education.
- The importance of implicit opportunity costs, such as foregone earnings or foregone satisfaction, to the total cost of an education.
- Why some college costs, such as room and board, are not opportunity costs or an education.
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CONSTANT-COST INDUSTRY A perfectly competitive industry with a horizontal long-run industry supply curve that results because expansion of the industry causes no change in production cost or resource prices. A constant-cost industry occurs because the entry of new firms, prompted by an increase in demand, does not affect the long-run average cost curve of individual firms, which means the minimum efficient scale of production does not change.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for a thesaurus filled with typos.
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"Progress always involves risk. You can't steal second base and keep your foot on first. " -- Frederick B. Wilcox
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GLS
Generalized Least Squares
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