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BOARD OF GOVERNORS, CHAIRMAN: The head of the Federal Reserve Board of Governors and the Federal Reserve System. This is the guy in charge of monetary policy and is considered to be one of the two or three most powerful people in terms of the national and global economy. The Chairman is one of the seven members of the Board and serves as Chairman for a five-year term. The Fed Chairman also serves as Chairman of the powerful Federal Open Market Committee, the Fed Committee that sets the course of monetary policy.
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Lesson 10: Utility and Demand | Unit 1: The Set Up
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Page: 4 of 21
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In this unit, you should have learned about:- A review of the demand concepts that are closely investigated by the study of utility, including law of demand, demand price, quantity demanded, income effect, and substitution effect.
- A review of the utility concepts associated with consumer demand theory, including total utility, marginal utility, law of diminishing marginal utility, and utility maximization.
- Why buying decisions are likely to depend on the marginal utility received and the law of diminishing marginal utility.
- How the analysis of utility and consumer demand can be used to understand other decisions.
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PHYSICAL FLOW In the circular flow model, the transfer of goods and services from the business sector to the household sector and the transfer of resource services from the household sector to the business sector. The physical flow is usually illustrated as a counter-clockwise flow for a model with the product markets at the top, resource markets at the bottom, household sector at the left, and business sector at the left. The payment flow moves in the opposite direction.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a how-to book on home remodeling or a tall storage cabinet with five shelves and a secure lock. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?
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In 1914, Ford paid workers who were age 22 or older $5 per day -- double the average wage offered by other car factories.
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"Old age isn't so bad when you consider the alternative. " -- Cato, Roman orator
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TSP
Time Series Processor (software)
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