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FEDERAL RESERVE DISTRICT BANK: One of 12 Federal Reserve Banks, each in charge of banking activity within its Federal Reserve District. The 12 Districts are centered in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Mineapolis, Kansas City, Dallas, and San Francisco. Presidents from 5 of these 12 Banks serve on the powerful Federal Open Market Committee that conducts monetary policy.
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Lesson 4: Production Possibilities | Unit 1: Getting Started
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Let's begin with a definition: Production possibilities is an analysis that shows how much of two goods that our economy can produce given existing resources and technology. Production possibilities analysis is used to... - Answer the 'What?' question of allocation: To answer the "What?", what goods we want to produce depends on what goods the economy is able to produce.
- Understand economic concepts: Some of the key terms we will analyze are opportunity cost, unemployment, full employment, investment, and growth.
- Introduce graphical analysis techniques: This will be our first hands-on work with graphical analysis, a required part of economic study. Graphs, lines, and curves are a handy way of abstracting key relationships and principles from the real world.
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IMPORTS Goods and services produced by the foreign sector and purchased by the domestic economy. In other words, imports are goods bought from countries. Imports are the counter to exports--goods produced by the domestic economy and purchased by the foreign sector. Imports, together with exports, are the essence of foreign trade--goods and services that are traded among the citizens of different nations. Imports and exports are frequently combined into a single term, net exports (exports minus imports).
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either one of those memory foam pillows or a remote controlled train set. Be on the lookout for telephone calls from long-lost relatives.
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There were no banks in colonial America before the U.S. Revolutionary War. Anyone seeking a loan did so from another individual.
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"Far and away the best prize that life has to offer is the chance to work hard at work worth doing." -- Theodore Roosevelt, 26th US president
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UR
Unemployment Rate
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