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BANK PANIC: Economy-wide concern over the stability of the banking system prompted by the failure of a few banks, which then contributes to the failure of many more banks, which contributes to the failure of even more banks, in a snowballing effect.
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Lesson 9: Macro Basics | Unit 3: Business Cycles
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Page: 9 of 16
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To understand business cycles, we need the causes:- Consumption: If households decide to buy more or less, the rest of the economy follows suit.
- Capital Investment: Big swings can set in motion upward or downward spirals of total production.
- Government Purchases and Taxes: Government purchases can be contractionary or expansionary effect over the economy. Taxes affect the ability of the household and business sectors to buy production.
- Net Exports: Changes in exports can trigger expansions and contractions of the domestic economy.
- Circulating Money: Too much money can trigger and inflationary expansion, too little money can trigger contraction and unemployment.
- Resource Supply Considerations: Resource supply changes (energy prices, technology, wages, etc.) can trigger expansions and contractions.
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FIFTH RULE OF IMPERFECTION The fifth of seven basic rules of the economy, stating that the real world is not perfect, especially in terms of achieving an efficient allocation of resources. This rule means that markets often fail to achieve due to market failures, and that governments seldom satisfactorily enact the policies needed to correct market failings. As such, the real world is often faced with the lesser of two evils--imperfect markets or imperfect government.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors looking to buy either a T-shirt commemorating last Friday (you know why) or a rotisserie oven that can also toast bread. Be on the lookout for infected paper cuts.
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This isn't me! What am I?
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Rosemary, long associated with remembrance, was worn as wreaths by students in ancient Greece during exams.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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ACV
Actual Cash Value
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