Google
Wednesday 
February 8, 2023 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
GOLD STANDARD: Use of gold as the standard for valuing a nation's currency. A gold standard can take at least three different forms, most of which have been part of the American economic landscape. (1) Gold is used as the money in circulation. (2) Gold is used to back up paper money in circulation. This involves the use of something like a gold certificate, such that the number of certificates in circulation is the same as the amount of gold stored someplace like Fort Knox. (3) Gold is used to fix the exchange price of paper currency in circulation. In this case, the currency could, in principle, be exchanged for some predetermined amount of gold. In other words, the price of gold is fixed in terms of dollars.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 23: Factor Market Equilibrium | Unit 1: Intro Page: 3 of 24

Topic: Equilibrium <=PAGE BACK | PAGE NEXT=>

  • Let's review the notion of equilibrium.

  • Equilibrium is the state that exists due to a balance between opposing forces, which remains unchanged until another force intervenes.
  • Once achieved, equilibrium persists unless or until it is disrupted by an outside force.

  • Equilibrium in the factor market works much the same, with the two opposing forces being:

    • Factor Demand
    • Factor Supply

  • When these two opposing forces of factor demand and factor supply are in balance, we have factor market equilibrium.

  • Should the factor market be out of equilibrium, then like any other market, it can experience a surplus or a shortage.

  • A factor market surplus, especially in labor markets, is more commonly termed unemployment.


Course Home | Lesson Menu | Page Back | Page Next

INTERCEPT, GOVERNMENT PURCHASES LINE

The intercept of the government purchases line indicates autonomous government purchases, government purchases that do not depend on the level of income or production. This can be thought of as government purchases that the government sector undertakes regardless of the state of the economy. Autonomous government purchases are affected by the government purchases determinants, which cause a change in the intercept and a shift of the government purchases line.

Complete Entry | Visit the WEB*pedia


APLS

BROWN PRAGMATOX
[What's This?]

Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a coffee table shaped like the state of Florida or storage boxes for your summer clothes. Be on the lookout for fairy dust that tastes like salt.
Your Complete Scope

This isn't me! What am I?

A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
"Learn to enjoy every minute of your life. Be happy now. Don't wait for something outside of yourself to make you happy in the future. Think how really precious is the time you have to spend, whether it's at work or with your family. Every minuteshould be enjoyed and savored."

-- Earl Nightingale

ANN REPT
Annual Report
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2023 AmosWEB*LLC
Send comments or questions to: WebMaster