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September 21, 2021 

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HARD CURRENCY: Historically money that is in the form of precious metals, especially gold. In modern times, any national currency that is expected to retain its value (and even appreciate in value), and is readily acceptable for most international transactions. The U.S. dollar, German marc, and Swiss franc tend to be near the top of the list of hard currencies (also termed hard money).

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Lesson 4: Production Possibilities | Unit 5: Investment Page: 21 of 24

Topic: Bundle Choices: E <=PAGE BACK | PAGE NEXT=>

Now with bundle E (410 jogging shoes and 4 calibrators).
  • Producing 4 calibrators has added to the economy's quantity of capital.
  • The cost of these 4 calibrators is 40 pairs of shoes.
  • Expanding the quantity of our capital has increased resources and shift the production possibilities curve.
  • Tomorrow's production possibilities curve is farther out than today's curve. There is growth and a shift in the curve.

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TIEBOUT HYPOTHESIS

The notion that people relocate from one political jurisdiction to another in search of a more preferred package of government taxes and spending. Named after economist Charles Tiebout, this hypothesis suggests that people "shop" for compatible government activity in the same way they might shop for a car, a house, or a flavor of ice cream. However, shopping for a preferred government package is influenced by other factors affecting migration.

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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers looking to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for fairy dust that tastes like salt.
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This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Man is born to live, not to prepare for life. "

-- Boris Pasternak, writer

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