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EURODOLLARS: Bank accounts denominated in U.S. dollars but held in banks outside of the United States. This is notable because banks typically maintain deposits in their domestic currency. Deposits in a German bank, for example, would be denominated in German marks. Originally Eurodollars were dollar deposits in European banks (hence the term "Eurodollars"). However, the notion of deposits held by a bank in currency other than that of the domestic economy has become a common practice around the world. Eurodollars are near monies added to M1 to obtain broader monetary aggregates, M2 and M3.
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Lesson 9: Macro Basics | Unit 3: Business Cycles
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Page: 8 of 16
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The macroeconomy is unstable. It has periods of falling production, rising inflation, and/or high unemployment. Business cycles are recurring expansions and contractions of the aggregate economy. - Expansion is a general period of increasing economic activity, or rising production, which is associated with low or falling unemployment and high or rising inflation.
- Contraction is a general period of decreasing economic activity, or falling production, which is associated with high or rising unemployment and low or falling inflation.
Counter-cyclical policies to stabilize the business cycle:- During an expansion, try to cause a contraction.
- During a contraction, try to cause an expansion.
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PRODUCT INNOVATION An innovation of a new product, technology, or idea that generates a beneficial improvement in society and the economy; one that is fundamentally different from existing products, technologies, or ideas. The contrast is with a process innovation, which is an improvement in an existing product, technology, or idea.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"You are the only problem you will ever have and you are the only solution. Change is inevitable, personal growth is always a personal decision." -- Bob Proctor, Author and Speaker
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CIFCI
Cost, Insurance, Freight, Commission and Interest
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